Goldman Sees Oil Falling Below $55 in 2026

Goldman Sachs commodity analysts expect Brent crude to slump to the low $50s next year, citing an expected oversupply of some 1.8 million barrels daily towards the end of the year. The surplus will swell as soon as this year, the analysts also said in a client note cited by Reuters. The prediction is in tune with the International Energy Agency’s latest projection for the oil market. In it, the IEA projected supply growth of as much as 2.1 million barrels daily this year, compared with a much more modest demand growth of 700,000 barrels daily,…