Goldman Sachs projects that global benchmark Brent crude could ease to an average of about $80 per barrel in 2027. The bank links the outlook to a change in market conditions, shifting from a period of supply tightness toward an eventual oversupply by late 2026.
In the forecasts cited by multiple outlets, Brent is expected to trade around $90 per barrel in December 2026, after Goldman revises its earlier estimate to reflect improving supply and demand balance. The sources also note that geopolitical risks—particularly instability in West Asia and the Middle East—could disrupt supply and keep prices volatile even if the broader medium-term trend is toward lower prices.
