29 July
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.
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