Goldman Sachs sees Brent crude at $80/barrel by 2027

Goldman Sachs forecasts Brent crude at $90/barrel in December 2026, easing to $80 in 2027 as Middle East supplies recover and oil market moves to surplus. Physical Brent exceeds $130 amid conflict risks, with a $25 risk premium. Global oil demand fell in Q3 2026, led by weakness in China.