ConocoPhillips sees oil price floor rising to $70 a barrel, chairman says
COP•ConocoPhillips Chairman Ryan Lance expects the oil price floor to rise to around $70 per barrel and sees a mid-cycle price of $65-$70 for WTI. He said U.S. oil production could exceed 14 million to 14.5 million barrels per day if prices remain around current levels.
1. Oil price outlook
ConocoPhillips Chairman Ryan Lance expects the oil price floor to rise to around $70 per barrel and sees a mid-cycle price of $65-$70 per barrel for West Texas Intermediate crude.
2. Production outlook
Lance said U.S. oil production could exceed 14 million to 14.5 million barrels per day if oil prices remain around current levels.
