Goldman Sachs lowers Brent crude price forecast for 2025

27/08/2024 Argaam

Goldman Sachs trimmed its price expectation for Brent crude in 2025 from $82 to $77 per barrel.

 

The investment bank also reduced the range-bound prices between $70 and $85 per barrel.

 

Goldman Sachs analysts warned that prices could fall below the revised expectations under several scenarios.

 

The scenarios include that Brent crude could drop to $60 per barrel if Chinese oil demand remains flat and to $63 per barrel if the US imposes a comprehensive 10% tariff on imported goods.

 

In addition, prices could reach $61 per barrel if OPEC fully reverses its additional production cuts of 2.2 million barrels per day until September 2025.

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