Oil firms raise supply concerns

摘要

Supply and demand are moving into balance but prices could double from present levels by as early as 2018 because of a lack of investment, oil executives warn. Prices might reach $80-90/bl in the next two to three years because of a lack of investment since 2014, ConocoPhillips chief executive Ryan Lance says. Oil and gas companies have cut investment and sharply reduced the number of project approvals over the past two years to balance their books.