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Goldman Sachs Revises Oil Price Forecast Downward to $60 Amid OPEC Supply Hike
Goldman Sachs Revises Oil Price Forecast Downward to $60 Amid OPEC Supply Hike
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Goldman Sachs has slashed its Brent Crude oil price projection to $60 per barrel, a steeper decline than its previous $63 estimate. The adjustment follows OPEC+’s decision to boost production by 411,000 barrels per day, signaling increased supply pressures. Brent prices briefly dipped to $60.21 before recovering to $61.50 this week.
The bank’s bearish outlook reflects broader commodity market volatility, a dynamic that often spills over into cryptocurrency markets as traders rebalance portfolios. While no direct crypto correlation exists here, energy price swings historically influence risk asset sentiment—including Bitcoin and Ethereum—as inflation hedges.
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