Goldman Sachs Lifts Brent Crude Forecast Amid Rising Energy Costs
Goldman Sachs has revised its Brent crude forecast to $85 per barrel in December, citing rising energy costs across Asia-Pacific markets. According to Goldman's commodities analysts, this upward revision is a response to increasing energy prices, which are expected to show up in September import and producer prices throughout the region.
The firm notes that consumer price increases will be more modest due to government subsidies and controlled pricing in many nations, despite high prices for refined products such as LNG and diesel. Prior to the Iran conflict, CPI inflation typically sat at or below central bank goals in most regional countries, but now both headline and core CPI inflation stand at or above target in many economies.
Goldman Sachs' numbers match consensus projections for 2026, yet vary for 2027 across several economies. The firm's estimates exceed consensus by the widest margin in India and Malaysia, while falling furthest short in Japan, Vietnam, and the Philippines.