Goldman Sachs cuts 2025 Brent price outlook
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Goldman Sachs reduced its expected trading range for Brent prices to $70-$85/barrel, and 2025 average Brent forecast to $77/barrel from $82/barrel. The downward revisions were attributed to high OPEC inventories, slower demand growth from China, and increased U.S. oil production.
The updated forecast reflects Goldman Sachs’ cautious view of the global oil market, considering supply dynamics, geopolitical risks, and economic uncertainties.
Goldman Sachs also adjusted its long-term Brent price outlook, reducing the fair value estimate by $2/barrel to $70/barrel. As OPEC is anticipated to ease some of its production cuts in October, this could further pressure Brent prices, though geopolitical tensions and market volatility might still support prices.
The updated forecast reflects Goldman Sachs’ cautious view of the global oil market, considering supply dynamics, geopolitical risks, and economic uncertainties.
Goldman Sachs also adjusted its long-term Brent price outlook, reducing the fair value estimate by $2/barrel to $70/barrel. As OPEC is anticipated to ease some of its production cuts in October, this could further pressure Brent prices, though geopolitical tensions and market volatility might still support prices.
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