BP Chief Executive Bob Dudley said Monday which he was “very comfortable” with oil prices at their current levels.
“I think the item got over $70, I think $72 a few weeks ago, which felt very high to me,” Dudley told CNBC in an interview at the Egypt Petroleum Show in Cairo. “We are planning on currently to the end of the decade (a cost) between $50 and also also also $65 a barrel.”
He added: “I think we’re in a range where the shales will be a shock absorber on the upside and also also also the downside. Very comfortable where oil prices are as we project out, not just This particular year however the years ahead.”