Goldman Sachs Raises Oil Forecasts on Largest-Ever Supply Shock

Goldman Sachs raised its 2026 oil price forecasts after prolonged disruptions to flows through the Strait of Hormuz, calling the event the largest-ever supply shock for global crude markets. The upgrade implies sustained upward pressure and greater volatility in oil prices, benefiting producers while increasing costs and downside risks for oil-importing economies and global growth.

Analysis

Goldman Sachs raised its 2026 oil price forecasts after prolonged disruptions to flows through the Strait of Hormuz, calling the event the largest-ever supply shock for global crude markets. The upgrade implies sustained upward pressure and greater volatility in oil prices, benefiting producers while increasing costs and downside risks for oil-importing economies and global growth.