BP boss Bob Dudley: Oil prices ‘low for up to 3 years’

Level: Topic: Energy

The boss of oil giant BP’s boss Bob Dudley has said that oil prices could remain low for up to three years.

He added that could send UK petrol prices below £1 per litre.

He told BBC Business editor Kamal Ahmed in Davos BP was planning for low oil prices for years to come.

That is expected to lead to job losses and falling investment in the North Sea oil industry and elsewhere, curbing supply and eventually forcing the price back up.

Read on…. links to AS Energy topic. Take note of the controls over energy prices. 

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