Goldman Sachs Lifts Brent Crude Oil (BZ) December Target to $105
Key Takeaways
- •Goldman Sachs increased its December price target for Brent crude oil (BZ) to $105 per barrel in a research note issued on November 2, 2026.
- •The upgraded forecast stands 17% above the bank's prior October estimate of $90 per barrel.
- •The research note was authored by analysts led by Daan Struyven, the bank's senior oil strategist.
- •The bank cited elevated supply disruption risk, meaning the potential interruption of crude production or shipments, as the basis for lifting its December outlook.
- •Because Brent crude serves as the international pricing benchmark alongside WTI, forecast changes of this kind are widely monitored by producers, refiners, and traders.
Goldman Sachs Lifts Brent Crude Oil (BZ) December Target to $105
Goldman Sachs has raised its December forecast for Brent crude oil (BZ) to $105 per barrel, a projection set out in a research note published on Monday, November 2, 2026. The new target sits 17% above the bank's October estimate of $90 and was authored by analysts led by Daan Struyven, the bank's senior oil strategist.
According to the note, the upgraded figure reflects what Goldman Sachs's research team describes as elevated supply disruption risk — the possibility that crude output or shipments could be interrupted, a factor forecasting teams can build into published price scenarios. The revision adjusts the bank's published December price outlook to account for that risk environment.
Brent crude, which trades under the ticker BZ on major futures exchanges, is the international benchmark used to price a large share of the world's seaborne crude. Alongside the US benchmark West Texas Intermediate (WTI), it serves as a key reference point for producers, refiners, and traders, and its quoted price feeds into fuel costs, corporate planning, and inflation measures across economies.
Forecast updates from major investment banks such as Goldman Sachs are widely tracked by market participants. Such targets represent the research views of the issuing institution, are subject to revision as market conditions evolve, and are not guarantees of future prices. For readers following the call, the near-term marker to watch is whether the bank's team adjusts the figure again in subsequent research notes, as it already did between its October estimate and this November publication.
This content was first published on COINOTAG: https://en.coinotag.com/goldman-sachs-lifts-brent-crude-oil-december-target-105
