Goldman Sachs cut its oil price forecast for 2025 by 5.5% for Brent crude and by 4.3% for West Texas Intermediate citing OPEC+ decision to bring more production back in May and the tariff barrage that President Trump unleashed this week, which the bank expects will cause a global recession. The bank’s analysts now expect Brent crude to average $69 per barrel this year and WTI to average $66 per barrel.
The benchmarks have been trading around these levels earlier today. Goldman did not stop there, however, expecting the doom and gloom to persist…Goldman Slashes Oil Price Forecast as Demand Outlook Dims
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