SHELL & BP PRICES: $50
FT wrote, Royal Dutch Shell and BP on Tuesday warned investors not to expect a strong rebound in oil prices next year as they set out plans for further cuts in spending to contain rising debts.
The UK-listed oil majors both said they were planning for prices per barrel in the low $50s in 2017 — only a little above current levels — in a sign of the industry adapting to "lower-for-longer" market conditions.
Oil prices have stabilised in recent months after the sharp falls from $100-per-barrel…
Log in to read the publication.
An authorized user gets access to four FREE publications per month.
You can also buy a full access to all publications of the site since January 2014.