Galp's profits and stock price pressured by the oil crash

The impact on Galp's results and on the energy sector could be “significant”, especially if crude oil prices remain below 70 dollars for an extended period.

Goldman Sachs has significantly reduced its forecasts for average oil prices in 2025 and 2026, citing growing risks from a global trade war and increased oil supply from OPEC+, which could lead to an economic recession, Reuters notes. According to the new estimates, the average price of Brent crude for 2025 is reduced by 5.5% to $69 per barrel, and the price of WTI (West Texas Intermediate) by 4.3% to $66. For 2026, Goldman lowered the forecast …