Brent could rise $5 to $14 if the Saudi shutdown is longer than a week – Goldman Sachs

Dhwani Mehta FXStreet

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.”

Russia’s Novak: There are enough commercial stockpiles to make up the shortfall from Saudi

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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