Goldman Sachs sees Brent crude at $80 by 2027. Goldman Sachs forecasts Brent crude at $90/barrel in Dec 2026, easing to $80 in 2027 as Middle East supplies recover and oil market moves to surplus. Physical Brent exceeds $130 amid conflict risks, with a ~$25 risk premium. Global oil demand fell 3.3 mb/d in Q3 2026, led by weakness in China.