Oil prices likely to hit $100/barrel in 2024, Goldman Sachs warns

01/12/2023 Argaam
Oil drilling rigs

Oil drilling rigs

Oil prices are expected to reach $100 a barrel in 2024 on supplies-related risks if the political turmoil escalates in the Middle East, Goldman Sachs strategists said in a note.

 

The impact of supply disruptions could be limited, as the Middle East dominates a smaller percentage of global supplies compared with the 1970s and 1980s. So far, Hamas-Israel war has a little impact on oil prices.

 

The bank's strategists added that oil prices are, however, volatile and could rise temporarily on unrest concerns as was the case at the start of Russia-Ukraine war in 2022.

 

OPEC's production policy and discipline will likely support oil prices in 2024, Goldman Sachs noted.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.