BP sees oil prices below $55/ barrel in 2018 - RTRS

Reuters reporting comments from BP CEO, Brian Gilvary, citing that he expects global oil prices to hold within a range of $45-$55 a barrel next year on rising US shale output.

Key Quotes:

"Global demand is looking pretty strong, and prices will firm around the levels seen today."

"We can now see where the price elasticity is. As the price comes up to $52-$53 a barrel we start to see some uptick in activity, as it drops to $45, we start to see that curtailing."

"For 2018 something around $45-$55 a barrel is probably a good range."