Goldman Sachs: Raises December Brent crude price forecast to $90 per barrel, maintains 2027 average price forecast of $80.

BlockBeats news, October 12: Goldman Sachs released a report stating that it maintains its base case that Middle East supply will continue to adjust, ultimately driving crude oil prices lower, but the conflict could escalate again, still posing a significant upside risk. Goldman Sachs raised its December Brent oil price forecast to $90 per barrel, while maintaining its forecast for the 2027 Brent crude average price at $80 per barrel, and expects WTI crude oil to average $81 per barrel in December this year and $73 per barrel in 2027.

Goldman Sachs said that if the Gulf region's average daily production in 2027 is 5 million barrels lower than the February 2026 level, rather than 300,000 barrels lower under the base scenario, Brent crude's 2027 average price could reach around $125 per barrel. Conversely, if the Gulf region's average daily production in 2027 is 1 million barrels higher than the February 2026 level, Brent crude prices could fall to the $60-plus per barrel range in 2027. (Jinshi)