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martedì 5 gennaio 2016

The oil could hit bottom in the first quarter

n-PTROLE-large570.jpgOil prices could sell off to their lowest in the first quarter of 2016 and remain at low levels for two years, he has advanced Saturday, the CEO of BP, Bob Dudley.
Lower could be reached in the first quarter, Dudley said during a BBC interview.
The global market is increased production over demand, which led to a drop in oil prices by almost 70% compared to 2014.
The prices will remain low for longer, we have already said, and I think we have for two years, warned the chief executive of British oil group. We are obviously in a loop.
There are two weeks, the price of Brent North Sea traded in London fell to the lowest level since July 2004 (to 36.04 dollars), while the New York WTI dropped to its lowest since February 2009 (to 33.98 dollars) .
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