Goldman Sachs expects oil prices to rise by 20 dollars per barrel if Iran's production is affected.

In an interview with Dan Stroeven, co-head of global commodities research at Goldman Sachs, on the Squawk Box Asia program on CNBC on Friday, the American lending expert discussed his expectations for oil prices in the upcoming period. The Goldman Sachs analyst mentioned that he expects a significant rise in crude oil prices if Iranian production is negatively affected; explaining that if he sees a continuous decline of one million barrels per day in Iranian production, oil prices next year will witness an increase of about $20 per barrel. Stroeven added that these expectations assume that the oil production cartel (OPEC+) refrains from responding with increased production to compensate for Iran's shortfall, pointing out that if key OPEC+ members, such as Saudi Arabia and the UAE, manage to compensate for some of the production loss, the oil markets may experience a smaller price increase that could be around $10 per barrel or less. Stroeven's comments came after West Texas Intermediate crude futures rose by about 5% on Thursday, and increased again on Friday, amid concerns over the disruption of Iranian oil supplies if the Israeli occupation government in Palestine strikes Iranian oil sites in response to Tehran's ballistic missile attack last week, which was a response to recent aggressive attacks and assassinations carried out by the occupation government in the region.