【Goldman Sachs lowers its oil price forecast based on the assumption of increased OPEC+ supply】Three members of Goldman Sachs' commodity research team said in a report that they lowered their oil price forecasts under the assumption of increased OPEC+ supply. OPEC+ decided on Saturday to increase production by 411,000 barrels per day in June, in line with Goldman Sachs' base case. Goldman Sachs currently expects OPEC+'s final production to increase by 410,000 barrels per day in July, compared with a previous forecast of 140,000 barrels per day. Goldman Sachs predicts that Brent crude oil prices will average $60/barrel for the rest of 2025 and $56/barrel in 2026, compared with previous expectations of $63/barrel and $58/barrel, respectively. Goldman Sachs expects WTI crude oil prices to average $56/barrel for the rest of 2025 and $52/barrel in 2026, compared with previous forecasts of $59/barrel and $55/barrel, respectively.
