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.

Goldman Sachs has lowered its 2027 oil price forecast, citing rising non-OPEC supply growth and weakening Chinese oil demand driven by electrification and alternative transport.

"Nudging down 2027 forecast..."

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…