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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: Black Blade	3/8/2020 8:47:38 PM
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How low will oil prices go? ...................................................................................................................... Mar. 8, 2020 8:11 PM ET\|About: The United States Oil E... (USO)\|By: SA Eli Hoffmann, SA News Editor The combination of global shock to crude demand from the spread of coronavirus, and the Saudi/Russia oil price war, makes the outlook for the oil market “even more dire” than in 2016, Goldman analysts say in a note this evening. “This completely changes the outlook for the oil and gas markets, in our view, and brings back the playbook of the ‘New Oil Order,’ with low-cost producers increasing supply from their spare capacity to force higher cost producers to reduce output.” Goldman says "possible dips in prices to operational stress levels and well-head cash costs" could see Brent trading at $20. At those levels, we will witness "acute financial stress and declining production from shale as well as other high-cost producers,” it warned.

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