Goldman Sachs forecasts a return to oil oversupply as Iran war impact fades
Goldman Sachs forecasts a return to global oil oversupply as the impact of the Iran war fades. The crude surplus is expected to average just over three million barrels a day in 2027, the bank said.
Goldman Sachs forecasts a return to global oil oversupply as the impact of the Iran war fades. According to the Straits Times, the bank expects the crude surplus to average just over three million barrels a day in 2027.
During the conflict, supply concerns had driven volatility in prices. Goldman's assessment suggests that, as the war premium recedes, the market balance could tilt back toward oversupply, which may translate into downward pressure on prices.
The bank's forecast rests on assumptions about the supply-and-demand balance and could change with conditions. Production decisions, the path of global demand and geopolitical developments are among the main factors that will determine the direction of oil prices in the period ahead.
Read next
Iran says it is selling oil at 20% premium, exporting 40 million barrels after ceasefire
Iran says it is selling oil at a 20% premium and has exported 40 million barrels following its ceasefire with the United States. The truce prompted a surge in crude shipments through the Strait of Hormuz, where traffic had largely ground to a halt during the conflict.
African states push to process minerals at home, from Kenya to Ghana and Mali
Gold falls after worst quarter since 2013 as rate-cut hopes fade
Trump accuses Iran of ceasefire breach after Strait of Hormuz attack
