New Delhi, April 5 -- Goldman Sachs lowered its forecast for Brent crude's average price this year by 5.5% to $69 a barrel and for WTI prices by 4.3% to $66, citing the risks of higher OPEC+ supply and the global trade war triggering a recession.

The Wall Street brokerage also chopped its 2026 average price forecast for Brent by 9% to $62 and for WTI by 6.3% to $59, and warned that the new estimates could be lowered further.

"The risks to our reduced oil price forecast are to the downside, especially for 2026, given growing risks of recession and to a lesser extent of higher OPEC+ supply," Goldman analysts said in a note.

Brent crude was priced at $69.59 a barrel as of 0408 GMT on Friday, while WTI was at $66.39.

Crude prices posted t...