Goldman Predicts Plunge in Gulf Borrowing Needs
This article is for subscribers only.
The Gulf Cooperation Council’s borrowing requirements could drop to $10 billion over the next three years from about $270 billion, if oil prices continue to stay elevated, according to Goldman Sachs Group Inc.
If prices for the commodity average $65 a barrel and all else is equal, borrowing needs for the six countries comprising the council would drop 96% from what they’d be if oil traded at $45, Farouk Soussa, an economist at the bank wrote in a report.