Goldman Sachs lifts Brent crude forecast to $108 for Q4 2026
As seen on the 24/7 Wall St. homepage on November 2, 2026.
A $13 jump in Goldman's Q4 2026 Brent target rewrites the cash flow math for producers and refiners, and resets the inflation path for everyone else.
GOLDMAN SACHS SHARPLY RAISES OIL PRICE FORECASTS THROUGH 2027 Goldman Sachs raised its Brent crude forecast for Q4 2026 to $108 per barrel, up from $95, while increasing its WTI forecast to $96 from $85. The bank also lifted its 2027 Brent forecast to $88 from $80 and WTI to
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Goldman Sachs raised its Brent crude target for the fourth quarter of 2026 to $108 per barrel from $95, rewriting the revenue assumptions baked into producer earnings models and refiner margin calculations.
The bank made a parallel move on WTI, lifting its Q4 2026 forecast to $96 from $85. WTI is the domestic benchmark U.S. drillers and pipeline operators price their output against, so the revision feeds straight into cash flow projections across the sector.
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Goldman also extended the bullish view into 2027, raising its Brent forecast for that year to $88 from $80. The multi-year arc of the revision signals the bank expects a sustained shift in the supply-demand balance through at least the end of next year.
For investors outside the energy sector, a Brent target of $108 for late 2026 carries inflation implications. Energy is a direct input into transportation, manufacturing, and food production costs, so a Wall Street bank anchoring its forecast that far above prior expectations shifts the conversation around rate policy and consumer spending alike.