Is This Oil Price Rally Sustainable?

29 Jul 2017   Prices

Oil prices are on track for the biggest weekly gain so far this year, with Brent solidly above $50 per barrel and WTI not far behind. Shell’s CEO: Oil prices “lower forever.” Royal Dutch Shell’s (NYSE: RDS.A) CEO Ben van Beurden said this week that oil prices will likely remain “lower forever,” not just because of too much supply, but also because the coming wave of EV adoption will lead to peak demand, possibly as soon as the late-2020s. His company now produces more natural gas than oil and will continue to diversify. Meanwhile, the company posted better-than-expected profits for the second quarter at $3.6 billion, or more than three times larger than the year before. JBC Energy: Oil to drop below $40 in […]

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