BP sees oil prices below $55/ barrel in 2018 - RTRS

Dhwani Mehta FXStreet

Reuters reporting comments from BP CEO, Brian Gilvary, citing that he expects global oil prices to hold within a range of $45-$55 a barrel next year on rising US shale output.

Key Quotes:

"Global demand is looking pretty strong, and prices will firm around the levels seen today."

"We can now see where the price elasticity is. As the price comes up to $52-$53 a barrel we start to see some uptick in activity, as it drops to $45, we start to see that curtailing."

"For 2018 something around $45-$55 a barrel is probably a good range."

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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