OSLO (Reuters) - Oil prices are set to stay at around $60 a barrel in the short and medium term, and will likely increase afterwards, the chief executive of Norwegian energy firm Equinor (OL:EQNR) said on Tuesday.
"I believe that $60, plus or minus, is still a reasonable assumption for the short to medium term," Eldar Saetre told Reuters on the sidelines of an industry conference.
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The oil market has yet to feel the inevitable supply impact from investment cuts that took place during the industry's 2014-2016 slump, he added.