Shafaq News/ Goldman Sachs has revised itsoil price forecasts downward, citing risks from increased OPEC+ supply and apotential global recession driven by trade tensions.
The bank lowered its 2025 Brent crudeaverage price estimate by 5.5% to $69 per barrel and WTI by 4.3% to $66. Italso cut its 2026 projections, reducing Brent by 9% to $62 and WTI by 6.3% to$59, warning of possible further declines.
"The risks to our reduced oil priceforecast are to the downside, especially for 2026, given growing risks ofrecession and to a lesser extent of higher OPEC+ supply," Goldman analystsstated.
As of 0408 GMT on Friday, Brent crude wastrading at $69.59 per barrel, while WTI stood at $66.39.
Crude prices posted their biggest dropssince 2022 on Thursday after US President Donald Trump imposed new tariffs onmultiple nations, and eight OPEC+ members accelerated plans to ease productioncuts by increasing output in May.