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Goldman Sachs Cuts Oil Price Forecasts Amid Recession Risks

4/8/2025

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Summary

Story summary

Goldman Sachs has revised its crude oil price forecasts amid rising recession risks and increased OPEC+ output.
Brent crude is projected to average $58 by December 2026, while WTI is estimated at $55.
In a worst-case scenario, Brent prices may fall below $40 if global GDP declines and OPEC+ cuts are reversed.
Current Brent prices are approximately $64, marking a 15% decline this year.

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Story summary

Goldman Sachs has revised its crude oil price forecasts amid rising recession risks and increased OPEC+ output.
Brent crude is projected to average $58 by December 2026, while WTI is estimated at $55.
In a worst-case scenario, Brent prices may fall below $40 if global GDP declines and OPEC+ cuts are reversed.
Current Brent prices are approximately $64, marking a 15% decline this year.