Goldman Sachs raises 2026 oil price forecast to $64/barrel

Goldman Sachs has revised its 2026 oil price outlook upward, projecting Brent crude will average $64 per barrel next year, up from $56. The bank's latest commodities outlook cites tighter inventories and shifting market fundamentals as drivers. Nigeria's 2026 budget assumes $64/barrel benchmark oil prices, aligning with Goldman's new forecast. The bank also projects $60 Brent average for Q4 2026, with WTI at $56. Despite this, Goldman warns of potential $5-$8 price drops if Iran/Russia sanctions ease. Nigeria's fiscal planning uses 2.6m bpd production benchmark and N1,512/USD exchange rate.

SOURCE: https://nairametrics.com/2026/02/23/goldman-sachs-raises-brent-price-outlook-to-60-in-q4-2026/