AhlulBayt News Agency (ABNA): According to a report by Goldman Sachs investment bank, if supply constraints continue and production in the Gulf countries does not fully return by the end of 2027, the average Brent crude price next year will also reach around $100 per barrel.
Meanwhile, the oil market is being influenced by news of mediation efforts between the United States and Iran, ongoing hostilities, as well as Yemen's Ansarullah threat to impose a naval blockade against Saudi Arabia.
Despite this outlook, oil prices fell slightly in Tuesday trading, with Brent crude dropping 0.3 percent to $88.83 and U.S. West Texas Intermediate crude falling to $82.49 per barrel. Analysts believe that escalating tensions in West Asia and declining oil exports from regional countries could significantly raise Goldman Sachs' previous forecasts of $80 oil by the end of this year.
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