New Bloomberg Study Warns of $150 Oil
May 14, 2024
A recent release sent to Rigzone by Bloomberg Intelligence (BI) warned that, according to a new analysis by BI and Bloomberg Economics (BE), “an escalation to a direct war between Israel and Iran could result in oil prices rising to $150 a barrel and global output cut by $1 trillion”.
Ziad Daoud, Chief Emerging Markets Economist at BE and co-author of the report, said in the release that the organization’s base case is that the war will remain largely confined, with limited impact on the global economy, but pointed out that this could change.
