Goldman Says Saudis Wrong to Rule Out U.S. Shale Oil Rebound - Bloomberg

Goldman Says Saudis Wrong to Rule Out U.S. Shale Oil Rebound - Bloomberg:
"Saudi Arabia is wrong to think that U.S. shale production won’t respond to higher oil prices in 2017, according to Goldman Sachs Group Inc.

While crude may rise to over $60 a barrel if OPEC members and other nations cut production as promised, a rebound in U.S. shale output would bring prices back to $55, the bank’s forecast for the first half of next year, it said in a report. Saudi Energy Minister Khalid al-Falih said on Saturday he didn’t expect a big supply response from American shale producers in 2017."

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