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Saudi Officials Estimate Oil to Rise to USD180/ Barrel if Energy Shock Persists Beyond Apr: Report
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Saudi Arabian officials believe that oil prices could soar above USD180 a barrel if the energy shock continues into late April, according to a report from The Wall Street Journal. The officials are concerned that high oil prices may habituate consumers to axing their spending on oil or trigger an economic recession, ultimately suppressing demand. Since the Iran conflict erupted on February 28, oil prices have already risen by around 50%. AAStocks Financial News |
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