Bank Of Baku

Low oil price to last for long – BP CEO

Low oil price to last for long – BP CEO
# 02 February 2016 14:00 (UTC +04:00)

Dudley said Russia may reduce the production 1-2%, but this will not affect the oil price.

 

“In my opinion, if Iran’s oil gets access to market, volatility may be observed in the prices, however, demand will be restored in the third and fourth quarter and this will have any impact on the prices. In general, 2016’s Q1 prices are lower than analogical period of 2015”, he said.

 

Dudley added that the low oil price will last for long.

 

 

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