Goldman Sachs Warns Oil Faces ‘Large Surpluses’ Through 2026 (2)

The global oil market faces “large surpluses” this year and next as the trade war weighs on crude demand growth and OPEC+ eases supply curbs, according to Goldman Sachs Group Inc.

The worldwide crude market is expected to have a glut of 800,000 barrels a day in 2025, and a wider surplus of 1.4 million barrels a day in 2026, analysts including Daan Struyven said in a note.

Crude hit a four-year low this month as the trade war — especially the confrontation between the US and China — stoked fears of a global recession that would hurt energy ...