New York, September 6 (FinanceFlashNews) — Goldman Sachs has revised its forecast for OPEC+ oil production, now anticipating that increases will start in December instead of October. This adjustment comes after OPEC+ decided to delay planned output hikes in October and November following a sharp drop in crude prices, which hit their lowest in nine months.
OPEC+ signaled that it could pause or reverse the increases further if market conditions necessitate such action. Despite this, Goldman Sachs maintained its Brent crude price range of $70-85 per barrel and reaffirmed its December 2025 Brent forecast at $74 per barrel.
The bank also noted that a modest reduction in OPEC+ supply in the coming months may be offset by a weaker demand from China and a faster-than-expected recovery in Libya’s oil supply.
| Commodity | Current Price | Goldman Sachs Forecast |
|---|---|---|
| Brent Crude | $71.06/barrel | $70-85/barrel |
| WTI Crude | $67.67/barrel | – |
| December 2025 Brent Forecast | – | $74/barrel |
Goldman Sachs added, “We still see downside risks to our $70-85 range due to high spare capacity and demand weakness from China.”
On Friday, Brent crude futures fell by $1.63 (or 2.24%) to $71.06 per barrel, while U.S. West Texas Intermediate (WTI) dropped $1.48 (or 2.14%) to $67.67 per barrel.
Keywords: Goldman Sachs OPEC forecast, OPEC+ production increase, Brent crude prices, China oil demand, Libya oil recovery.
