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Oil prices is expected to remain in $50-60 per barrel range in 5 coming years - BP CEO

June 04, 6:12 UTC+3 ST. PETERSBURG

BP will be comfortable for the next five years with the price between $50 and $60 per barrel, Robert Dudley said

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ST. PETERSBURG, June 3. /TASS/. Oil prices will stay in the range of $50-60 per barrel and such price is fair for producers and for consumers, Chief Executive Officer of UK-based BP Robert Dudley told TASS in an interview on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"It may be lower a little bit or may be above it for short periods of time but at the moment, if you ask me about the supply and demand, I would say $50 to $60 [per barrel]," the top manager said.

BP will be comfortable for the next five years with the price between $50 and $60 per barrel, Dudley said.

"I do not believe we will see $100 [per barrel] in the next five years nor do I think we will see $20 [per barrel]. I think price of $50 to $60 [a barrel] is actually healthy for the world because for consuming countries it is a fair price for energy and for producing countries it is a fair price for their product," he added.

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