"Goldman" expects a deeper drop in the oil price due to the slowdown in US growth and "OPEC+"

Global Investment Bank, Goldman Sachs, has reduced its expectations for oil prices due to the slowdown in the prospects for the growth of the US economy as a result of customs duties, in collaboration with the increase in the production of “OPEC” and its allies. This review came after the price of crude oil dropped from the highest levels recorded in January, due to the plethora of supplies and poor demand expected from China, the largest oil importer, worldwide, in addition to the increase in international trading tension. Brent rough price expectations at Goldman, including Streving, said in a research note: “Although the $ 10 decline since mid -January exceeded the change in basic factors according to the basic scenario expectations, we lower our expectations for Brent -RU in December 2025 by $ 5 to $ 71.” They added: “The risks of medium rank affecting our expectations remain low, given the possibility of customs duties and the continued increase in the production of the OPEC+ coalition for a longer period.” Some of the world’s largest oil trade companies have become more pessimistic, as “vitol” and “ghinfour” expect a surplus in the offer. The International Energy Agency said last week that demand is declining due to the increase in the trade war and the organization of the organization of Petroleum Exporting Countries “OPEC” and its allies to increase supplies, and expects a surplus of 600 thousand barrels to be expected this year, equivalent to about 0.6% of daily world consumption. However, ‘Goldman Sachs’ said it expected prices to recover in the coming months, with US economic growth currently being sturdy, and the lack of immediate indicators to reduce US sanctions. Certain geopolitical tension is still other existing geopolitical risks, including the US case recently attacked in Yemen, controlled by the Houthi’s, with their continued threat to the movement of navigation in the Red Sea. “Goldman Sachs” said that the demand for oil will rise by 900,000 barrels a day in January, a 18% decline compared to previous expectations. The bank added that the price of Brent ruol will be between $ 65 and $ 80, with an average of $ 68 next year.