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

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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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