Sector News

Total CEO sees oil staying at low levels in H1 2015 -French TV

January 21, 2015
News
(Reuters) – The price of oil will likely remain at a low level throughout the first half of this year, the chief executive of French oil major Total (TOTF.PA) told France 2 television in an interview at the Davos World Economic Forum on Wednesday.
 
“The real unknown regarding the subject of the oil price is how long it will last,” Patrick Pouyanne said. “Frankly, I think it will remain at low levels for the first half of 2015.
 
“After that, we’ll see, it depends on lots of factors. Notably, how will a certain number of major producer countries behave.
 
“But, if it lasts, it is indeed good for the economy … If it lasts, that means demand for oil products will rise, so at some point, the price of oil will rise again.”
 
The price of oil has dropped 60 percent since June and U.S. crude is now trading just below $47 a barrel CLc1.
 
(Reporting by James Regan; Editing by Andrew Callus)

Related News

August 23, 2019

The higher purpose of being a CEO

Borderless Leadership

When I left my second large company experience to become President of a small manufacturing company I did so driven by ego; I fancied the title. Soon enough I realized […]

August 23, 2019

As Brexit nears, Britain’s drugs, devices and pricing regulators seek the exit

Life sciences

Firm details on exactly how the U.K. will regulate new medicines is still to be decided after it leaves the EU later this year (caveats on timing abound), but we […]

August 23, 2019

The Simply Good Foods Company acquires Quest Nutrition for $1bn

Food & Drink

The Simply Good Foods Company, the owner of Atkins-branded food products, has secured a deal to acquire protein snack maker Quest Nutrition for $1 billion. Quest, which sells a range […]