BlackRock’s CEO Larry Fink said he was just in the Middle East and he’s more bearish on oil prices.
“I was in Saudi Arabia yesterday and Kuwait yesterday and I’m back here today. So I’ve been in the Middle East the last four days,”Fink said at the Dealbook Conference on Thursday afternoon.
“I probably came away from the Middle East more bearish on energy — more bearish that prices can go down lower — more bullish on the world because this is good for the world.”
Fink later said he didn’t know where oil prices would go. He also said that after spending time with four governments on his recent trip it was clear that they don’t know where prices are going either.
Overall, though, lower oil is a good thing, he said.
“But the most important thing…this is a massive tax cut for the world. This is really good stuff for the world.”
Oil prices fell below $US60 on Thursday. Oil is currently trading around $US59.08 per barrel.
Watch the full interview below: