Wall Street banks raise oil price forecasts for 2026 and 2027

Goldman Sachs, Morgan Stanley, and other institutions have recently raised their short-term oil price forecasts. Goldman Sachs has raised its forecast for Brent crude in December 2026 to $90 per barrel, while Morgan Stanley has increased its Brent crude forecast for the fourth quarter of 2026 and the first quarter of 2027 by approximately $5. Previously, JPMorgan had abandoned its baseline forecasts due to the difficulty of modeling Middle East conflicts, and current spot prices are now significantly higher than their earlier estimates.