Most U.S. oil executives see prices below $60/barrel through 2018

12 Oct 2017   Prices, USA

Nearly two-thirds of U.S. oil executives see crude oil prices remaining below $60 per barrel through 2018 and not hitting $70 until at least the next decade, according to a survey published on Wednesday by consultancy Deloitte Services LP [DLTE.UL]. FILE PHOTO – A pump jack used to help lift crude oil from a well in South Texas’ Eagle Ford Shale formation stands idle in Dewitt County, Texas, U.S. on January 13, 2016. REUTERS/Anna Driver/File Photo The survey, based on a poll of 250 executives at companies that produce, transport and refine oil and natural gas, reflects a shift from last year when many respondents forecast commodity prices would rise and capital spending budgets grow. U.S. oil prices CLc1 fell slightly on Wednesday to $50.79 per barrel. This year’s more dour view, especially among shale industry managers, comes as executives are focusing on cost controls and […]

Comments are closed.