Oil prices are likely to drift lower this year as a wave of supply creates a market surplus, although geopolitical risks tied to Russia, Venezuela and Iran will continue to drive volatility, Goldman Sachs said in a note on Sunday. The investment bank maintained its 2026 average price forecasts of $»»»

Oil prices are likely to drift lower this year as a wave of supply creates a market surplus, although geopolitical risks tied to Russia, Venezuela and Iran will continue to drive volatility, Goldman Sachs said in a note on Sunday. The investment bank maintained its 2026 average price forecasts of $»»»

Goldman Sachs on Friday said it expects OPEC+ to announce a second consecutive increase in supply for June on Saturday, due to modest compliance from Kazakhstan, lower-than-expected OECD inventories, and Saudi Arabia's ability to handle lower oil prices. The Wall Street bank expects the Organisatio»»»

Opec has stuck to its , although the oil producers’ group has slightly lowered its forecast for regions other than China. Oil demand in Organisation for Economic Co-operation and Development (OECD) countries was lowered due to economic headwinds, which was offset by improvement in Chinese demand gr»»»