Goldman Sachs raises oil price forecast to $90 per barrel for December 2026

Goldman Sachs has increased its oil price outlook for the coming years, with analysts projecting West Texas Intermediate (WTI) crude to trade at $90 per barrel by December 2026. The revised forecast reflects expectations for tighter market conditions and shifting global energy dynamics in the coming period.

According to the bank's analysis, WTI crude is expected to average $81 per barrel in December 2026, before declining to $73 per barrel in 2027. These projections represent an adjustment from previous estimates, signalling Goldman's reassessment of supply and demand trajectories for global oil markets.

Goldman Sachs analysts attributed the current price differential between WTI and Brent crude to unusually high shipping costs between the United States and Europe. This cost structure has kept WTI prices artificially depressed relative to Brent benchmarks, a divergence that may narrow as trade patterns evolve and logistics normalise.

For Indian importers, WTI price movements carry significant implications given the country's reliance on crude oil imports and the linkages between global benchmark prices and domestic fuel costs. The forecasted price trajectories suggest continued volatility in international energy markets over the next two years.