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Are Low Oil Prices Here to Stay? – Bloomberg Business

08 Feb

Vitol Group Chief Executive Officer Ian Taylor says crude oil will likely hover between $40 and $60 a barrel for 10 years. The lower boundary would imply little recovery for Brent crude, the global benchmark, whereas the upper limit would put prices back to the level of July 2015, when the oil industry was already taking measures to weather the crisis. The forecast would mean oil-rich countries and the energy industry would face the longest stretch of low prices since the 1986-1999 period, when crude mostly traded between $10 and $20 a barrel.

Source: Are Low Oil Prices Here to Stay? – Bloomberg Business

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Posted by on February 8, 2016 in Public Finance

 

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