Goldman Sachs Lowers Oil Price Target for Second Time in a Week
BlockBeats News, June 16th, Goldman Sachs released the latest forecast: "Following Trump's announcement of reaching a temporary agreement and the expected lifting of the U.S. blockade and reopening of the Strait of Hormuz on Friday, we have lowered our oil price forecast. Although the full details of the agreement are not yet clear, we currently assume that Persian Gulf exports will return to pre-war levels by the end of July (previously by the end of August)."
"We have revised down our Brent crude oil forecast for the fourth quarter of 2026 to $80 (previously $90) and lowered our average price forecast for 2027 to $75 (previously $80). We expect the average price of WTI crude oil in the fourth quarter of 2026 to be $75 per barrel and $70 per barrel in 2027."
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