Brent could rise $5 to $14 if the Saudi shutdown is longer than a week – Goldman Sachs
|Goldman Sachs’ Energy Research and Senior Commodity Strategist offers his outlook on oil prices, in the face of Saturday’s attack on the Saudi Arabian oil and gas facilities.
Key Quotes:
“Brent oil up $3 to $5 if the shutdown time is less than a week.
Brent could rise $5 to $14 if the shutdown is longer, 2 to 6 weeks.
If the shutdown of production is more than 6 weeks price to over $75, shale oil production gets a big boost.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.