Goldman Sachs has warned that declining oil demand in China and Europe poses a significant risk to its crude price forecasts for the fourth quarter of the current year, despite ongoing geopolitical tensions in the Middle East. The bank noted
that previous expectations of Brent crude reaching $90 per barrel face downward pressure of up to $10, driven by weak industrial and vehicular fuel consumption in Asia and Europe. Meanwhile, growing optimism regarding a potential US-Iran agreement has limited oil
price gains, prompting investors to reassess their market positions.
