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Goldman Sachs lowers oil price forecast after OPEC+ decision to boost output

Oil & Gas 360º

The bank now expects Brent crude to average $60 per barrel for the rest of 2025 and $56/bbl in 2026 down by $2 from its previous estimate. It has also cut its forecast for West Texas Intermediate (WTI) crude by $3/bbl, now projecting it to average $56/bbl for the remainder of 2025 and $52/bbl in 2026.

BBL 130
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Khalda Petroleum to Bring 2 New Wells Online This June

Egypt Oil & Gas

Khalda Petroleum, a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and Apache Corporation, is bringing two new wells into production in June 2025, with an initial estimated total of 5,400 barrels of crude oil per day (bbl/d). Khalda completed drilling operations for the Fox Deep-02 appraisal well.

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Banks betting on market fundamentals despite trade policy upheaval

Oil & Gas 360º

(World Oil) –Banks are staying confident in long-term energy fundamentals despite significant trade policy turbulence, according to the Spring 2025 Haynes Boone Energy Bank Price Deck Survey. per barrel from $61.89 per barrel in Fall 2024. This move prompted banks to raise their 2025 projection to $3.50/MMbtu,

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OPEC+ Reaffirms to Increase Production by 411,000 bbl/d in May

Egypt Oil & Gas

The eight OPEC+ countries reaffirmed to start gradual increase in production starting from 1 April 2025 by adding 411,000 barrels per day (bbl/d), equivalent to three monthly increments, in May 2025. million barrels per day (mmbbl/d).

BBL 52
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IEA Cut Oil Demand Expectations for 2025

Egypt Oil & Gas

The International Energy Agency (IEA) announced that global oil demand growth forecast for 2025 has been revised down to 730,000 barrels per day (bbl/d), a decrease of 300,000 bbl/d from the March report. These expectations are mainly impacted by the strong oil consumption in Q1 2025, up by 1.2

BBL 52
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Goldman Sachs: Risk in oil markets is skewed to the downside

Oil & Gas 360º

While we reduced our Brent forecast range by $5/bbl to $65-80, we expect oil prices to edge up in coming months, and think that market pricing of volatility and of the upside risk from potentially lower sanctioned supply remains too low, Goldman Sachs analysts wrote in a Tuesday note carried by Reuters.

Oil 130
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Barclays cuts 2025, 2026 Brent crude forecast as OPEC+ accelerates output hikes

BOE Report

Barclays lowered its Brent oil price forecast by $4 per barrel to $66/bbl for 2025 and by $2 to $60/bbl for 2026, citing the decision by OPEC+ to accelerate oil production hikes.

BBL 52