Goldman Sachs raised its oil price forecast for December 2026 and 2027 by $5 per barrel. The new judgment is based on the fact that the suspension of shipping in the Middle East will continue until next year. Goldman Sachs analyst Daan Struivan and others wrote that the predicted price of Brent crude oil was adjusted to 85 US dollars per barrel in December 2026 and 80 US dollars per barrel in 2027; the forecast price for West Texas crude oil in December 2026 is 80 US dollars per barrel, and next year it will be 75 US dollars per barrel. The increase was limited because the OECD commercial onshore inventories have hardly been consumed since the outbreak of the conflict, indicating that the crude oil supply gap was smaller than previously anticipated by the market. Even if shipping blockages continue, analysts expect that Middle Eastern supply can be adjusted, the scale of “clandestine crude oil circulation” will expand, and multiple pipelines will be put into operation by the end of 2027. The risk of rising oil prices is still prominent, and the short-term risk is particularly significant.

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