Icahn: Oil will go lower, Saudi Arabia blindsiding the world
Everett Rosenfeld | @Ev_Rosenfeld
The price of oil will go lower as supply and demand remain unbalanced, activist investor Carl Icahn said Thursday.
Icahn, who spoke with CNBC’s “Fast Money: Halftime Report,” said that Saudi Arabia’s decision not to cut oil production blindsided the global market, and that he expects the commodity’s price will keep sliding.
“I think [oil’s price] will continue to go down unless there is some outside event,” Icahn said.
He prob has a huge short position.