EUROPE

Statoil's $80 prayer

STATOIL CEO Eldar Saetre expects the oil price to reach $80 before 2018, he said as the Norwegian major beat analysts' Q2 profit forecast and announced a shift to US dollars as presentation currency to align better with its peers.

"We think there will be some time before we will see a balanced market," the CEO said. "But we have also been clear about our expectation for the oil price to rise again and we have indicated around...

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