Energy
Goldman Cuts Oil Outlook Below $80 as OPEC+ Risks Send Chill
- Cartel may seek ‘disciplining’ of rivals with boost, bank says
- Morgan Stanley also reduces outlook for 2025 as surplus looms
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Wall Street is beginning to sour on the outlook for crude next year, with Goldman Sachs Group Inc. and Morgan Stanley lowering price forecasts as global supplies increase, including potentially from OPEC+.
The two banks now foresee global benchmark Brent averaging less than $80 a barrel in 2025, with Goldman’s revised forecast cut to $77, while Morgan Stanley sees futures ranging from $75 to $78. Both expect that the crude market will be in surplus, with prices trending lower over the 12 months.