Experience Stern | News & Events

Excerpt from Bloomberg -- "I think that, over the next year and a half, gradually all [oil] prices are going to go higher. By the end of next year, it might be closer to... $70 a barrel for two reasons. One, demand is going to recover, but, more importantly, lower prices imply that high marginal cost producers... are going to produce less, and more importantly, everybody around the world is now reducing capital spending in the oil sector by 30% and over the next few years that reduction in capex spending is going to reduce the increase in supply in the future and therefore is going to affect prices in the future. But we're not going to go back to a world of... $100 per barrel."

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