FACTBOX-Goldman Sachs raises Brent, WTI oil price outlook
Feb 23 (Reuters) - Goldman Sachs GS.N expects the average 2026 Brent price to be at $71 per barrel (/bbl), from $64/bbl previously, and U.S. West Texas Intermediate price at $67/bbl for the same period, versus $60 earlier.
The bank also raised its average Brent price forecast for the second quarter of 2026 by $10 to $76 per barrel, citing expectations that reduced oil flows through the Strait of Hormuz would draw down OECD inventories and curb Middle East production in March.
Major banks expect oil prices to remain elevated in the near term, weighing supply disruption risks through the Strait of Hormuz amid the widening Middle East conflict.
Brokerage/Agency | Brent | WTI | Forecasts as of | ||
| 2026 | 2027 | 2026 | 2027 |
|
Goldman Sachs | $71 | $70 | $67 | $66 | March 4, 2026 |
Barclays | $65 |
| $61 |
| February 21, 2026 |
Wells Fargo Investment Institute | $65- $75 |
| $60-$70 |
| February 04, 2026 |
Bernstein | $80 |
|
|
| March 2, 2026 |
JPMorgan | $58 | $57 | $54 | $53 | November 24, 2025 |
Macquarie | $61 | - | $57 | - | September 30, 2025 |
Commerzbank | $60 | - | $57 | - | November 11, 2025 |
Barclays | $65 | - | - | - | December 11, 2025 |
HSBC | $65 | - | $62 | - | April 15, 2025 |
BofA | $60 | - | $57 | - | December 18, 2025 |
Citi | $62 | - | - | - | December 11, 2025 |
Deutsche Bank | $72 | - | - | - | October 13, 2025 |
Morgan Stanley | $70 |
| - | - | January 13, 2025 |
UBS | $67 | - | - | - | January 5, 2026 |
indicates end-of-period forecasts
# current as of given date, may not indicate date of revision
For a table of crude price forecasts as per Reuters' latest monthly poll, see OILPOLL
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