Goldman Sachs maintains its downward forecast for oil prices, after OPEC+ decided to increase oil production.
After OPEC+ approved further increases in supply quotas, Goldman Sachs maintains its prediction of a drop in crude oil prices and states that commercial inventories are expected to "significantly increase" from the fourth quarter onwards. Analysts including Daan Struyven wrote in a report on September 7 that Brent oil prices will reach $64 per barrel in the fourth quarter and the average price in 2026 will be $56 per barrel. It is expected that there will be a surplus of 1.9 million barrels per day in the global crude oil market next year, higher than the previous forecast of 1.7 million barrels.
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