Goldman Sachs raised its December 2026 Brent crude forecast to $105 per barrel from $90, a revision of nearly 17%, Oil & Gas 360 reported on November 2. The bank also lifted its West Texas Intermediate forecast to $94 from $81, and raised its 2027 averages to $88 for Brent (from $80) and $78 for WTI (from $73). Analysts led by Daan Struyven and Yulia Zhestkova Grigsby built an allowance for a potential global supply disruption of one million barrels per day into the 2027 base case. Goldman expects a substantial geopolitical risk premium to remain even as Middle East production recovers. Morgan Stanley and ANZ also set Brent forecasts of $105, part of a wider pattern of rising oil price forecasts.
The report noted a wide range of outcomes. Goldman said Brent could reach $140 and average about $130 in 2027 if Persian Gulf production stays 3.5 million barrels per day below its 2025 average, though that is a conditional scenario and not its primary forecast. A faster production recovery combined with a lasting diplomatic agreement could instead push Brent into the $60 range. Oil prices declined on Monday, November 2, as renewed discussions involving Iran and Qatari mediators raised expectations that tensions could ease. Investors are watching Middle East production, global inventories, diplomacy, and tanker movements through the Strait of Hormuz.
Guardian Energy Partners delivers weekly industry insights to keep you informed about the oil and gas sector. Stay connected by following us on social media, and contact us to speak with a representative to explore current investment opportunities. To learn the basics, read how direct ownership in oil and gas wells works and who can invest with Guardian.
Disclaimer: The summary above is based on news from an external source and provided for educational purposes only. It does not constitute investment, financial, tax, or legal advice, nor a recommendation to buy or sell any securities. Market conditions and regulations change frequently, so we strongly encourage you to consult qualified professionals before making any decisions. Neither the publisher nor its affiliates accept liability for losses or damages arising from reliance on this information.
