ConocoPhillips Sees Oil Price Floor Rising to 70
ConocoPhillips chairman Ryan Lance expects the oil price floor to rise to seventy dollars per barrel. He noted that US production could exceed fourteen million barrels daily.
Insights:
ConocoPhillips expects the global oil price floor to climb to $70 per barrel, driven by resilient demand and shifting supply dynamics. Speaking on Monday morning in London, Chairman Ryan Lance projected a mid-cycle price of $65 to $70 per barrel for the United States West Texas Intermediate crude benchmark. The assessment comes as energy markets digest the fallout from recent geopolitical tensions in the Middle East.
