New Delhi, Oct. 17 -- Global crude oil prices could moderate to USD 80 per barrel in 2027 as Middle East supplies recover and the oil market moves towards a surplus, although renewed escalation in the US-Israel-Iran conflict could keep prices elevated for longer than expected, according to Goldman Sachs Research.

The firm expects benchmark Brent crude to trade at USD 90 per barrel in December 2026, revising its previous forecast of USD 85, before averaging USD 80 per barrel in 2027, Daan Struyven, co-head of global commodities research and head of oil research at Goldman Sachs, said in a report.

The firm said the recovery in Middle Eastern oil exports, higher production outside the Persian Gulf and weakening demand had significantly nar...