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.”

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