BP has hiked its oil price assumption to $60/B out to the mid-2030s, a near-term hike of $10/B on the previous take which had prices languishing at $50/B to the mid-2020s based on expectations of a near-to-mid-term oil surplus
Speaking on his firm’s Q2 earnings call on 3 August, CEO Bernard Looney now says that BP expects prices to be supported by tight demand out beyond the end of the decade “for three basic reasons”. (CONTINUED - 662 WORDS)
