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David Roche’s forecast for long-term oil prices is not positive

Speaking to Bloomberg, DAVID ROCHE (President and Global Strategist at Independent Strategy) predicts that the new vision of Saudi Arabia for growth by separating the economy from its dependence on oil and strategy of Prince Mohammed bin Salman restructuring so far are inconsistent.

D. Roche forecast for long-term oil prices is not positive, despite recent optimism demonstrated by Russia. According to the comments, truly balancing factor would be sustainable agreement between Russia and Saudi Arabia, something that it can not happen. “The situation with oversupply likely to remain and I think 44 dollars is the approximate upper limit, and $ 32 is the bottom of this range.” Concludes Roche to Bloomberg.


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