New Delhi, Oct. 12 -- Brent crude oil prices could fall to the USD 60s per barrel in 2027 if oil production in the Persian Gulf recovers faster than expected, Goldman Sachs said in its latest report. However, the investment bank warned that further escalation in the region could push prices significantly higher.

Goldman Sachs said Brent prices could decline to the USD 60s if average oil output in the Gulf in 2027 rises by 1 million barrels per day above February 2026 levels.

"A faster recovery in Mideast output and/or a faster erosion of the risk premium are the most likely potential triggers of price downside," Goldman Sachs said.

The report said its main expectation remains that continued adjustments in Middle East oil supply would e...