8 April | Oil

Oil could fall below $40 — Goldman Sachs

Oil could fall below $40 — Goldman Sachs

Goldman Sachs analysts have warned of a possible decline in Brent oil prices below $40 per barrel by the end of 2026 under negative circumstances. Such a forecast is possible with a slowdown in global GDP growth and OPEC+ refusal to cut production.

As the bank's experts note, the oil price is under pressure, experiencing the impact of trade disputes and growing supply in the market. The bank's baseline forecast assumes a price of $55 per barrel at the end of next year. However, OPEC+ decisions to increase production after a long period of output cuts create additional risks for the market.

According to Bloomberg, the situation remains highly unstable amid the confrontation of the world's largest economies. Recently, the price of Brent oil fell to a four-year low, reaching $65 per barrel.

Period: 01.05.2025 Expectation: 1000 pips
GBPUSD to test level of 1.34 again
25 April 2025 55
Brent sell
Period: 01.05.2025 Expectation: 660 pips
Trade uncertainty and excess OPEC+ supply are dragging down Brent
25 April 2025 40
Period: 29.04.2025 Expectation: 600 pips
USDCAD to head towards 1.39400 after rebounding from 1.38200
25 April 2025 35
Period: 02.05.2025 Expectation: 1669 pips
AUDCAD gains on potential easing of trade tensions between US and China
25 April 2025 35
Period: 30.04.2025 Expectation: 12000 pips
ETHUSD set to test upper boundary of downtrend channel
24 April 2025 90
Period: 25.04.2025 Expectation: 500 pips
AUDUSD to fall to 0.63000
24 April 2025 45
Go to forecasts