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Goldman Sachs lowered its forecast for oil prices and oil demand growth
On March 17, Goldman Sachs lowered its Brent crude oil price forecast for December 2025 by $5 to $71 per barrel (WTI crude oil forecast is $67 per barrel), revised the average price forecast for Brent crude oil in 2026 to $68 per barrel (WTI crude oil is $64 per barrel), and now expects oil demand to increase by 900,000 barrels per day in 2025 (previously expected to be 1.1 million barrels per barrel).