Goldman Sachs: Global oil market could see large surpluses in 2025, 2026

14/04/2025 Argaam
Oil drilling rigs

Oil drilling rigs

Goldman Sachs expects the global oil market to face significant surpluses this year and next, as trade tensions weigh on crude demand and OPEC+ eases supply curbs.

 

In a note cited by Bloomberg, the bank’s analysts projected a surplus of 800,000 barrels per day (bpd) in 2025, followed by a larger surplus of around 1.4 million bpd in 2026.

 

The forecast comes as oil prices dropped in April to their lowest in four years amid escalating trade tensions between Washington and Beijing, raising fears of a global economic slowdown.

 

Goldman Sachs expects Brent crude to average $63 per barrel for the remainder of 2025 in a base-case scenario that assumes no US recession and a modest increase in OPEC+ supply.

 

The bank also sees global oil demand rising by just 300,000 bpd this year.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.