Goldman Sachs Expects Brent To Decline to the Low $50s by Late 2026

Goldman Sachs said on Tuesday it expects Brent prices to decline to the low $50s per barrel by late 2026 due to a widening of the oil surplus next year.

"We expect the oil surplus to widen and average 1.8 million barrels per day in 2025 Q4 - 2026 Q4, resulting into a nearly 800 million barrels rise in global stocks by end 2026," the bank said in a note.