`This Too Shall End': Loews CEO Tisch Eyes $75 Oil in Two Years - Bloomberg:
While oil prices remain stubbornly low despite a pledge by OPEC to curb global output, the head of one U.S. conglomerate is eyeing a rebound that’ll bring crude back to $75 a barrel.
“What we’ve seen this year is a dramatic increase in production,” Jim Tisch, chief executive officer of Loews Corp., which bought the rest of Boardwalk Pipeline Partners LP it didn’t already own earlier this year, said on Bloomberg TV Monday. “Now oil is $50 a barrel, the shale producers are singing the blues again, and I think things are going to slow down.”
That’s due in part to break-even prices that Tisch said explorers are “under-quoting.”
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