Pioneer Chief Sees Oil Prices Near $50 by Year-End

摘要

Pioneer Natural Resources Chief Executive Scott Sheffield expects oil prices to rise to $50 per barrel by the end of this year or the start of 2017 as US shale oil production continues its steady descent. Sheffield added that $50/bbl would not be high enough for US shale oil producers to return to growth mode and said banks and other creditors would take a much tougher line with the sector in future as losses from bad loans and corporate bankruptcies mount.