Goldman Sachs Raises Oil Price Forecasts for December and 2027

According to CNBC, Goldman Sachs raised its December Brent forecast to $105 per barrel from $90 and set its WTI forecast at $94 per barrel. It also lifted its 2027 average forecasts to $88 per barrel for Brent and $78 per barrel for WTI, from $80 and $73, respectively. A note led by strategist Daan Struyven cited elevated supply-disruption risks tied to the conflicts between Russia and Ukraine and in the Middle East, as well as broader geopolitical fragmentation. The bank’s base case includes a 1 million barrels per day global supply-disruption allowance in 2027. Markets are pricing in a higher risk premium, as many traders expect a lasting diplomatic breakthrough to be difficult.