As drillers hunker down, Wall St sees oil bounce
CEOs across oil industry plan austerity measures to weather a sustained period of depressed oil prices
Houston
THERE is a growing disconnect between Houston and Wall Street over when slumping oil prices will recover.
Beaten down by a seven-month rout that slashed crude prices from over US$147 a barrel last summer to US$42 a barrel, producers are bracing themselves for oil to remain at about US$60 a barrel for as long as the next five years or so, according to executives gathered this week at the industry's biggest annual conference.
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