Goldman Sachs believes that its forecast for the average price of Brent crude oil in the next two years is facing downside risks.

On March 4th, the Golden Data reported that Goldman Sachs stated in a report on Tuesday that the estimated average prices of Brent crude oil and WTI crude oil for 2025 and 2026 are facing two downside risks within the Brent price range. The first risk is higher-than-expected supply, and the second risk comes from the downside risks to oil demand resulting from weak US economic activity and tariff escalation. The bank previously forecasted average prices for Brent and WTI in 2025 and 2026 to be $78 and $73 per barrel respectively, with WTI prices at $74 and $68 per barrel, and expected Brent price range to be $70-85 per barrel.