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2016-11-02 18:45:00

SHELL & BP PRICES: $50

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…

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Tags: SHELL, BP, OIL, PRICES
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