Goldman lowers oil price views on slower demand growth, higher OPEC+ supply
1. Goldman Sachs lowered 2025 and 2026 forecasts for crude oil prices. 2. The revision cites slower demand growth and increased OPEC+ supply.
FAQ
Why Bearish?
Lowered oil price forecasts typically lead to decreased interest in oil-related funds like BNO. Historical precedent shows that expectations of higher supply can greatly suppress prices.
How important is it?
The forecast adjustment by a major financial institution like Goldman Sachs can heavily influence market sentiment and trading behavior in oil futures, directly affecting BNO.
Why Long Term?
The forecast changes indicate shifts in market fundamentals that could persist over several years. Similar past changes have impacted pricing dynamics beyond immediate reactions.