Middle East Conflict Prompts Goldman Sachs to Hike 2026 Crude Projections

Rising regional strife has led Goldman Sachs to revise its oil market outlook, shifting from a projected surplus to a significant deficit. Analysts at the bank have raised their Q4 2026 Brent crude target to $90 per barrel. This adjustment reflects the impact of supply disruptions that have removed 14.5 million barrels per day from the global market. Furthermore, a previously anticipated 1.8 million barrel-per-day surplus for 2025 has now flipped into a projected 9.6 million barrel-per-day deficit by the second quarter of 2026, highlighting the tightening grip on energy supplies.