Goldman Sachs Expects OPEC+ Cuts To Push Brent Into $40S In 2026
ReutersMay 2, 2025 6:35 PM
May 2 (Reuters) - GOLDMAN SACHS:
SAYS IT EXPECTS OPEC8+ TO ANNOUNCE TOMORROW A SECOND CONSECUTIVE 0.41MB/D INCREASE IN SUPPLY FOR JUNE
MAINTAINS BRENT/WTI AVERAGING $63/59 IN THE REMAINDER OF 2025 AND $58/55 IN 2026
SAYS CONTINUES TO EXPECT MODERATE DECLINES IN IRAN SUPPLY FROM 2025H2
SAYS IT CONTINUES TO ESTIMATE GLOBAL SLOWDOWN OR FULL REVERSAL OF THE 2.2MB/D OF VOLUNTARY OPEC+ CUTS WOULD LIKELY PUSH BRENT INTO $40S IN 2026, BELOW $40 IN UNLIKELY EXTREME COMBINED SCENARIO
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