The bank raised its 2026 Brent average by $8 to $85 a barrel and WTI to $79, citing tighter supply balances.
MoneyTurkey Research Desk | 1 November 2026
Key points
- Goldman Sachs raised its 2026 Brent crude average price forecast by $8 to $85 a barrel and WTI to $79 a barrel.
- The bank flagged demand weakness as a key risk to its oil price outlook.
Goldman Sachs raised its 2026 Brent crude average price forecast by $8 to $85 a barrel and WTI to $79 a barrel, according to EnergyNow.com, which reported on the note. The move reflects the bank’s view that supply will tighten more than previously expected. The bank also lifted its December 2026 Brent price forecast to $90 a barrel.
The call
Goldman Sachs raised its 2026 Brent crude average price forecast by $8 to $85 a barrel and WTI to $79 a barrel. The bank also lifted its December 2026 Brent price forecast to $90 a barrel. The figures come from press coverage of the note.
The bank flagged demand weakness as a key risk to its oil price outlook. The note did not provide further detail on the size of the demand risk or the timing of any potential slowdown.
The reasoning
The bank pointed to tighter supply balances as the main driver behind the higher price forecast. The note did not specify which regions or producers are expected to deliver the tighter supply.
The bank did not publish a full supply-demand table in the coverage reviewed. The $85 Brent average for 2026 is presented as the new base case.
How it compares / Risks
Other research calls in the same digest covered unrelated assets. Standard Chartered kept its $100 Uniswap target to 2030. Culper Research disclosed a short position in Cerebras, claiming its wafer-scale processors last 18-30 months. UBS cut its KOSPI target on the strong won. HSBC upgraded GE Vernova to Buy with a $1,100 target.
The Goldman note did not compare its new oil forecasts to other banks’ estimates. Demand weakness remains the main risk the bank highlighted.
What to watch
- Weekly US inventory data for signs of tighter balances
- OPEC+ production compliance reports
- Global demand indicators, especially China and India
- December 2026 Brent futures for alignment with the $90 target
For information only. Not investment advice.
Sources
- EnergyNow.com: https://news.google.com/rss/articles/CBMisAFBVV95cUxPRVg2X190YVA4cHR2S2JPek01bm1OV0NabE1jQUphdTFOZHk4R1FFUjlJS0dBdHgwb3B6b3FYN2trUFFRRUdfbUJPXzhORzl3dG8yZTNFOXc5cDFsY1B2V0FVbHFxNGRlSEc4NU1ONlhZT2JVS2hSalg2TUdOa3VfM3QzbDRRVHVwdWZLRWxadUpiOTFROERzNzFaZklCNGk5VHVtaWU3ZldTaFRxOGlpSQ?oc=5
- EnergyNow.com: https://news.google.com/rss/articles/CBMimwFBVV95cUxQOHFGUmRQVzAwcGEtS1ZYLWpVMzM3MFpZMV9GRGN5WG5Gd2N5RlE4NVFMcWhjaEItdUV4QkJhMXNvRDQ1QmtjUlRsOVBPVmpQaUdaNmtpZGl1LVNBTDNjUHVEVnNMTGZJMWlNTE5BdFpjWHNCRlkwVGZlLTc4c1lfSTRDMFBzTHlVbVdPOENwY09oMjF3aHZsYWNFSQ?oc=5
- EnergyNow: https://news.google.com/rss/articles/CBMinwFBVV95cUxQT294UnVBZFFvMU52MWZSOFRxNWlINURUaWpfZXBMY1MzSGU1YmJRd2R4TDNqSE80S0pXZHc0WmRZUFB4N3Iwdk1FRWRxdlNhY09vLWNNOHVsdkhyNVNqaDlINE1zSXpOOTEyTzlyV0NwTW15UHUtMmJHN3FVSW10bDFSbnRQaXEwUms5SlpTVjVYRmFfSnpBSGt6a0Z2VHM?oc=5
- Admirals: https://news.google.com/rss/articles/CBMihwFBVV95cUxPTHlGbzRVWGlzNEVLVXB2T3BkQzRCbDhRVXhYb0Q5SjBhSHAxNzF4N2RpUHkzdDNnWVpzbEpta2RZaUZkamstelVKdGE5WXFIcWp3TlFhY3pMbmxSeThpc1ZBRFVUQmlmVi1pT0h3aU9CSDlHQnMtWC1EVHk2MHRYQm9RUnB2N2s?oc=5
