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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid structural shifts in global energy markets, Goldman Sachs has lowered its 2027 average Brent oil price forecast to $80 a barrel. The bank cited stronger supply growth and persistent demand weakness as the primary reasons for the revision, despite ongoing warnings regarding geopolitical volatility. This adjustment reflects the bank's increasingly conservative outlook on long-term market balances.
This move aligns with other major institutions; Morgan Stanley recently trimmed its oil price forecasts citing rising non-OPEC production, according to Bloomberg reports. Compared to last year's levels, market data shows Brent prices have faced downward pressure as economic growth in China slows, supporting the Goldman Sachs thesis of structural demand weakness.
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Sign InLooking ahead, traders are focusing on the upcoming OPEC Meeting scheduled for June 7, 2026, which may provide signals on production policy to counter these bearish outlooks. Brent crude stood at $82.45 per barrel (close June 11, 2026), placing current prices slightly above the bank's long-term target, with market participants watching the $80 level as a key psychological support.