OIL

BP bets on $US60 oil

SUPERMAJOR BP is planning for balanced cash flows by 2017, but at an oil price more than $US15/barrel above today, and expects to exceed its initial goal of shedding $US10 billion worth of assets as it braces for the "lower for longer" oil pricing paradigm.

BP bets on $US60 oil

The UK-based oiler's balanced cash flows are estimated at around $US60/barrel, which compares to West Texas Intermediate trading at $43.20/bbl yesterday, while Brent crude was $46.81/bbl. Overnight BP...

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