“The oil prices in the world are too high,” said Bob Dudley at a conference in The Hague. “The oil prices in the world are too high and it’s unhealthy for the world,” said Bob Dudley, the chief executive officer of British oil-and-gas giant BP. Some emerging market economies such as South Africa, India, and Turkey were suffering from their highest-ever prices of gasoline because the market price of oil—which is traded in US dollars—has been rising while their currencies depreciated rapidly, Dudley said. “There’s a healthy price for oil and energy and I believe that balances producing countries and consuming countries,” he added. “In my mind, it’s somewhere between $50 and $65 a barrel. The world can live with this.” The price of Brent crude, the European benchmark for oil, has increased by nearly 20% this year. Earlier this month, it topped $86 a barrel. Economic and geopolitical […]