Woods, Executive, Oil Price discussed on Today


Of the spin that than than their heads who will be a good idea you think if if if pay if these big share woods didn't pan until say ten years after they were awarded and the executive may well have moved on but the the the shares to sit there until until it's it's it's proved what they did was right or wrong yes i i think we just want to encourage a longerterm perspective in terms of the type of our investment nicola me so let's say look away from the launch into the very short term now and the oil price it has ticked up corner on the back of the sort of political tumour in saudi arabia corruption purge eleven leading political and business figures now depth we think it's going up to sixty three dollars which is about a two year high is that d day you expecting to go higher yes we are i mean i think fundamentally we think the all markets name seventy five us dollars a barrel to encourage the investment because global oil demand is still rising fairly fairly solid late on a million barrels of oil per day per year and i think that the reason it is still so low is because there's this tremendous optimism around us shale which has delivered nearly twothirds of all these criminal nailing growth we've seen in the last two or three years we think that optimism is is misplaced did you think american show we'll just run out of road won't be able to grow as quickly as it has done absolutely i mean that that that we're already seeing tremendous customer flation inside there that business because the rigs are becoming more expensive to round they need a hell of a lot of sand and and all of water to pump out so we need the markets have been particularly in the us slightly over exuberant about the power that that that can come out of us shale and we're seeing now stocks fooling around the world and they're think these tire just say that at the moment when final keep law on the road and continue to function thank you very much john's klebanov basis world leaders and of course the hangers on our embalmed this wanting for the latest round of international climate change talks the.

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