Goldman Sachs cuts 2026 oil price forecast amid market volatility
This digest was compiled by AI from multiple sources — links to the originals are below.
Goldman Sachs has reduced its oil price forecast for the second quarter of 2026. The adjustment reflects ongoing market uncertainties. This comes even as global demand projections remain uncertain.
Revised Price Forecast
Goldman Sachs has adjusted its oil price forecast for the second quarter of 2026, citing market volatility. The bank now expects Brent crude prices to average $85 per barrel, down from the previous estimate of $90. This revision comes as the energy sector faces fluctuating demand and supply dynamics.
Market Reactions
The announcement by Goldman Sachs has prompted reactions across the energy markets. Oil futures saw a slight decline following the revised forecast. Analysts from JP Morgan and Morgan Stanley are also reassessing their projections in light of the new data.
Goldman Sachs Commodities Research Head Comments
Samantha Dart, co-head of global commodities research at Goldman Sachs, explained the adjustment in a program. The revision applies to Q4, not Q2 2026, and includes both Brent crude and WTI projections.
OPEC Cuts and Price Forecast
Jeff Currie, global head of commodities research at Goldman Sachs, stated that OPEC's planned production cuts will drive crude oil prices into the low $90s within a year. He cited substantial physical inventory draws as the mechanism for the price increase.
What's Next
OPEC is scheduled to meet next month to discuss production levels. It remains unclear how these forecasts will influence their decisions.
3 sources
Goldman Sachs cuts 2026 oil price forecast amid market volatility
