Goldman Sachs The group stated that following U.S. intervention, Venezuela’s oil production is expected to increase further in the future, which could ultimately put downward pressure on oil prices. Analysts, including Daan Struyven and Yulia Zhestkova Grigsby, said: “Any recovery in production is likely to be slow and limited, as infrastructure has been damaged and strong incentives are needed to spur large-scale upstream investment.” In the near term, the bank maintained its average oil price forecasts for this year, with the average price forecast for Brent crude remaining at $56 per barrel and that for WTI crude at $52 per barrel. However, they noted: ““In addition to recent increases in oil production data from Russia and the United States, Venezuela’s long-term production is likely to rise further, which exposes our oil price forecasts for 2027 and beyond to greater downside risks.”