MARKETS

Oil's cloudy future

SUPERMAJOR BP can see no serious rise in the oil price over the next five years and Halliburton is tipping a much-needed price spike in the 2020s amid warnings that the world's biggest oilers will have their credit ratings hammered unless there is a turnaround or rapid cost-cutting.

Oil's cloudy future

Speaking on CNBC, BP CEO Bob Dudley said the oiler was planning for $US50/barrel oil over the next five years, although it maintains a breakeven level target of $30/bbl for its projects.   BP is trying...

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