Goldman lowers 2027 Brent oil forecast on supply growth, demand risks

Goldman Sachs on Thursday lowered its 2027 average Brent oil price forecast to $80/bbl, citing stronger supply growth and persistent demand weakness, even as it warned prices could swing sharply under different geopolitical scenarios. The bank highlighted rising output from the United States, Brazil, Guyana, Venezuela and the UAE, alongside structural demand shifts, particularly in China.

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