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BP’s Robert Dudley sees oil price at $50 per barrel for rest of 2016

Robert Dudley

BP Chief Executive Robert Dudley says it will take some time to work off the stock levels of oil. CNBC photo.

Robert Dudley says same level or a little above for 2017

VLADIVOSTOK, Russia, Sept 2 (Reuters) – BP Chief Executive Robert Dudley said on Friday he expected global oil prices to remain at around $50 per barrel till the end of this year and at the same level or even “little above” in 2017, he told reporters in Vladivostok.

“I think for now, since 2014, we are back into the balance with oil and gas. Supply and demand balance is just about being reached right now. But this will take quite some time to work off the stock levels of oil,” he said.

(Reporting by Vladimir Soldatkin; Writing by Katya Golubkova; Editing by Christian Schmollinger)

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