Goldman projects lower oil prices in 2026 as supply swells

Core Viewpoint - Oil prices are expected to decline this year due to an increase in supply leading to a market surplus, despite ongoing geopolitical risks that may cause volatility [1] Supply and Demand - A wave of supply is anticipated to create a surplus in the oil market this year [1] Geopolitical Risks - Geopolitical tensions related to Russia, Venezuela, and Iran are expected to continue influencing market volatility [1]