Goldman Sachs forecasts oil prices will fall to $50 per barrel by the end of 2026

By the end of 2026, the price of Brent will fall to about $ 50 per barrel amid an expanding oil surplus.

According to analysts at the investment bank Goldman Sachs, OECD countries will account for about a third of global oil reserves in 2026, combined with weaker demand in the OECD, this will affect the decline in the “fair” price of Brent from the current about $ 70 per barrel, Reuters reports.

“We expect the oil surplus to increase and average 1.8 million barrels per day in the fourth quarter of 2025 (to) the fourth quarter of 2026, which will lead to an increase in global reserves by almost 800 million barrels by the end of 2026,” the American investment bank said in a statement.

According to the bank, Brent will mostly trade near the forward curve prices until the end of 2025, and will fall below it in 2026 against the background of accelerated inventory growth in the OECD.

At the same time, analysts suggest that faster inventory accumulation in China could raise the average level of Brent in 2026 by $6 to $62 per barrel.

As of Wednesday morning in Asia, Brent was trading near $67 per barrel, and WTI around $63.

Tags: prices