12:44 - 27.08.2025

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August 27, Fineko/abc.az. The price of Brent crude oil futures is expected to fall to just above $50 per barrel by the end of 2026 due to increased oversupply next year. According to ABC.AZ, this was reported by the reputable investment bank Goldman Sachs.

“We expect that from the fourth quarter of 2025 through the fourth quarter of 2026, there will be a daily surplus of 1.8 million barrels, which will result in a global stock build of about 800 million barrels by the end of 2026,” the U.S. investment bank said yesterday in a note to clients.

According to the bank’s estimates, in 2026 oil stored in the member states of the Organisation for Economic Co-operation and Development (OECD) will account for one-third of total global inventories, or 270 million barrels. Combined with declining demand in OECD countries, this will push the fair value of Brent below its current average level of $70.

Goldman noted that Brent prices will remain close to futures contract levels until the end of 2025, but next year they will fall below those contract prices as OECD inventory growth accelerates.

At the same time, the bank stated that the faster pace of stockpiling in China — increasing from the current 0.4 million barrels per day to 0.8 million barrels per day — could lead to the average Brent price in 2026 rising by $6 per barrel compared to the bank’s base forecast, to $62.

This morning, Brent futures are trading at around $67 per barrel, while WTI futures are trading at $63 per barrel.