# Goldman Sachs Lifts December Brent Oil Price Forecast to $90

- URL: https://stocks.freetheai.org/news/goldman-sachs-lifts-december-brent-oil-price-forecast-to-90-5cdf7d
- Published: 2026-10-12T01:38:06Z
- Category: energy; sentiment: bullish; impact: medium
- Written by our AI from expert market sources across the web for FreeTheAI Stocks, built by Vibhek Soni
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Goldman Sachs (GS) raised its December Brent crude price target by $5 to $90 a barrel, pointing to potential supply disruptions in the Middle East. At the same time, the bank set its December West Texas Intermediate (WTI) forecast at $81 a barrel. Transport costs between Europe and the United States have kept WTI trading at an unusually large discount to Brent crude.

Although Middle East oil exports from Gulf countries recovered to their 2025 average and global oil markets were balanced in September, analysts noted that escalation risks create net upside pressure on prices. Beyond Middle East geopolitical tension, current market strength is being driven by low crude inventories, physical restocking demand, and financial hedging activity. Over time, supply adjustments are expected to push prices lower.

Looking further ahead, Goldman Sachs kept its average Brent price forecast for 2027 unchanged at $80 a barrel. The investment bank also projects full-year 2027 WTI crude to average $73 a barrel. Investors will be monitoring Gulf export flows, global inventory levels, and freight costs between regional trading hubs.

## Key points

- Goldman Sachs raised its December Brent crude forecast by $5 to $90 per barrel due to Middle East supply risks.
- The bank set its December U.S. WTI crude forecast at $81 per barrel, noting transport costs have kept it cheap relative to Brent.
- Global oil markets were largely balanced in September as Gulf exports returned to their 2025 average levels.
- Low inventories, restocking demand, and financial hedging continue to support higher crude prices.
- Long-term forecasts remain unchanged, with 2027 Brent expected to average $80 per barrel and WTI at $73 per barrel.

## Questions and answers

### What is Goldman Sachs' December forecast for Brent crude?

Goldman Sachs raised its December Brent crude price forecast by $5 to $90 a barrel, citing ongoing supply risks in the Middle East.

### Why is WTI crude trading at a discount to Brent crude?

U.S. benchmark WTI crude is unusually cheap compared to Brent crude due to high transport costs for moving oil between Europe and the United States.

### What is the long-term price outlook for oil in 2027?

Goldman Sachs expects Brent crude to average $80 a barrel in 2027, while forecasting full-year WTI crude to average $73 a barrel.