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Oil bosses upbeat on market rebound later in 2016

But BP chief cautions that US$100 oil will not return any time soon

Published Sun, Feb 14, 2016 · 09:50 PM
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London

MOVERS and shakers from the oil industry descended on London last week and expressed optimism over a sharp rebound in the beleaguered crude market later this year.

Bob Dudley, chief executive of British energy major BP, forecast at the International Petroleum (IP) Week industry conference on Wednesday that "the daily (oil) supply and demand" will be balanced in the second half.

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