BP Says Oil Price Will Rise in Q2

- January 21st, 2016

In an interview with the BBC, BP (NYSE:BP) boss Bob Dudley has said that he sees oil prices rising in the second half of this year, predicting that the US will begin to shut down production.

In an interview with the BBC, BP (NYSE:BP) boss Bob Dudley has said that he sees oil prices rising in the second half of this year, predicting that the US will begin to shut down production.
However, he also admitted it was “not impossible” that the oil price could fall as low as $10 per barrel.
As quoted in the publication:

“It has been low in the last year, I think it has been lower for longer but it is not lower forever,” he told me.
“I think it’s going to be a year of two halves.
“We could see some real volatility in the first quarter [and] second quarter.

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