Analysts at American investment bank Goldman Sachs Group Inc. are calling a colossal drop in the price of Brent crude oil possible. This is reported by Bloomberg, reports UNN.
Details
"In a more extreme and less likely scenario with a slowdown in global GDP and a complete cessation of OPEC+ cuts, we estimate that Brent will fall slightly below $40 a barrel by the end of 2026," analysts said in their April 7 note.
This view is not consistent with the bank's current baseline forecast, which sees Brent at $55 next December, the publication said.
Problems in the global oil market have become possible due to the "tariff wars" on the part of US President Donald Trump and countermeasures by other countries, Bloomberg writes. This has increased the risk of recession and created obstacles to energy consumption.
Recall
On Tuesday, April 8, oil prices rose by more than 1%. They recovered after a sharp drop to almost a four-year low - the fall in prices was due to fears that US tariffs could lead to a recession.