Oil Bosses in Davos See Shale Rebound Capping 2017 Price Surge
- Entering a period of greater oil-price volatility: IEA Chief
- Shale increasing even at $50 oil price, Saudi’s Al-Falih says
This article is for subscribers only.
Top oil industry officials in Davos aren’t turning completely bullish just yet. Capping their enthusiasm is U.S. shale oil, which is likely to limit price increases and usher in a period of greater volatility.
U.S. supply is already returning at $50 a barrel, Saudi Arabia Energy Minister Khalid Al-Falih and BP Plc Chief Executive Officer Bob Dudley said in Davos, Switzerland, on Tuesday. Higher prices will accelerate that process, according to International Energy Agency Executive Director Fatih Birol.