The oil price has fallen in connection with the global recession. However, the American major bank Goldman Sachs estimates that the bottom is far from being reached.
Goldman Sachs sees a possible scenario where Brent oil can fall to under 40 dollars per barrel from the current level of around 64 dollars.
"In an extreme scenario and a less likely one – i.e. a global GDP downturn and reduced oil production from Opec+ – we estimate that Brent oil can fall to under 40 dollars per barrel by the end of 2026", the bank writes.
Currently, however, the estimate is an oil price of 55 dollars in December this year.
