Goldman Sachs Sees Limited Upside for Oil Prices in 2025

Oil prices are expected to average $76 per barrel next year amid sufficient supply and ample spare capacity, according to Goldman Sachs. “Overall, we still see the medium-term risks to our $70-85/bbl range as two-sided but skewed moderately to the downside on net as downside price risks from high spare capacity and potentially broader trade tariffs outweigh upside price,” the investment bank’s analysts wrote in a note carried by Reuters. Oil prices are currently close to Goldman’s call for next year. Early on Wednesday,…