Goldman Sachs boosts its December Brent crude forecast to $105 per barrel, citing heightened supply security risks despite ongoing global oil flow recovery.
Goldman Sachs has significantly increased its December Brent crude price forecast to $105 per barrel, marking a 17% upward revision from the previous $90 estimate. This adjustment is driven by mounting concerns regarding global supply security, which the analysts believe will keep prices elevated throughout the remainder of the year and into the next.
Goldman Sachs expects Brent crude to average $105 per barrel in December.
The revision is primarily attributed to increased risks surrounding global supply security.
Goldman Sachs analysts have increased their December Brent crude price target to $105 per barrel, marking a 17% jump from previous estimates. The firm cites persistent supply security risks as the primary driver for the upward revision, suggesting prices will remain elevated through the coming year.
The firm cited heightened risks to global supply security as the primary reason for raising its December price target to $105 per barrel.