Oil CEOs: Oil Going To $60, Companies To Start Spending Again

With crude oil now above $50 per barrel for the first time since July 2015, many executives in the industry forsee prices nearing $60 by the end of 2016.

Jun 9th, 2016

With crude oil now above $50 per barrel for the first time since July 2015, many executives in the industry forsee prices nearing $60 by the end of 2016.

More in Economy
House Speaker Nancy Pelosi of Calif., accompanied by House Congress members, speaks at a news conference to discuss the United States Mexico Canada Agreement (USMCA) trade agreement on Tuesday, Dec. 10 on Capitol Hill in Washington.
North American Trade Pact Agreement Announced
Both House Speaker Nanci Pelosi and President Donald Trump said the new agreement is a significant improvement over NAFTA.
Dec 10th, 2019
I Stock 1156390316
How the Trade War Will Affect Holiday Shopping
A recent report put the cost for the average household at $1,000 a year once the newest tariffs take effect.
Dec 10th, 2019
In this Nov. 4, 2019 file photo, cargo cranes are used to take containers off of a Yang Ming Marine Transport Corporation boat at the Port of Tacoma in Tacoma, WA.
US Productivity Edges Down 0.2% in Q3
It was the first quarterly drop since the fourth quarter of 2015.
Dec 10th, 2019
In this March 8, 2019, file photo, work continues on an outdoor observation deck on the 30 Hudson Yards office building in New York. Business economists expect U.S. economic growth to slow this year and next, but they say the economy will avoid recession.
Economists Expect to Avoid Recession
However, they peg the odds of a recession by mid-2021 at 66%.
Dec 9th, 2019
In this Nov. 4, 2019, file photo a job posting is displayed near the entrance outside a restaurant in Orlando, Fla. Two reports last week show that small business hiring still lags behind the strong job growth reported at larger companies, and that owners are unlikely to increase their staffs significantly in 2020.
Report: Small Business Hiring Slow
Seventy percent of the new jobs in November came from mid-sized firms, said Mark Zandi, chief economist at Moody’s Analytics.
Dec 9th, 2019
In this Nov. 27 file photo, Balo Balogun labels items in preparation for a holiday sale at a Walmart Supercenter in Las Vegas.
US Gains a Robust 266,000 Jobs
The November unemployment rate dipped to 3.5%, matching a half-century low, and wages rose a solid 3.1% compared with a year earlier.
Dec 6th, 2019
I Stock 539809138
November Fastener Distributor Index Re-Enters Contraction, Has Biggest One-Month Drop Since July 2016
The index has sunk 9.3 points over the past two months, while distributors' six-month outlook had a modest improvement.
Dec 5th, 2019
In this Oct. 2, 2019 file photo, a shipping container is lifted off the back of a truck as others wait in line to have their cargo unloaded at a terminal on Harbor Island in Seattle.
US Trade Gap Narrows 7.6% to $47.2 billion in October
The deficit in the trade of goods with China narrowed by 1.1% to $31.3 billion in October and is down 14.6% so far this year.
Dec 5th, 2019
I Stock 1164078965
China Says US Must Cut Tariffs in Trade Deal
The two sides are negotiating details of a “Phase 1” agreement announced by President Donald Trump in October.
Dec 5th, 2019
In this Oct. 2, 2019 file photo, trucks hauling shipping containers drive near containers stacked five-high at a terminal on Harbor Island in Seattle. US and China are trying to finalize a modest trade agreement to deescalate a trade war that has rattled financial markets and hobbled global economic growth.
Forever War: US, China Struggle to Defuse Trade Conflict
President Donald Trump delivered another setback to the optimists Tuesday, saying he was willing to wait until after the 2020 elections to close a deal with Beijing.
Dec 3rd, 2019
White House chief of staff Mick Mulvaney talks with US President Donald after his meeting with NATO Secretary General Jens Stoltenberg at Winfield House on Tuesday, Dec. 3, in London.
Trump Says China Deal Could Wait until after Election
Trump said Tuesday that the only limiting factor to reaching an agreement with China is whether he wants to make a deal.
Dec 3rd, 2019
In this Nov. 4, 2019 photo, cargo cranes are used to take containers off of a Yang Ming Marine Transport Corporation boat at the Port of Tacoma in Tacoma, WA.
Survey: Higher Number of Small Businesses Hurt By Tariffs
A report released Monday showed that the trade conflict is contributing to further deterioration in the manufacturing sector, which includes many small businesses.
Dec 2nd, 2019
In this Nov. 27, 2019 photo, workers use a lift while working on a new building in Boston's Seaport district.
US Construction Spending Falls 0.8% in October
The month's totals were dragged down by declines in apartment and multi-family homebuilding.
Dec 2nd, 2019
In this Nov. 20, 2019 file photo, workers with Apple products being assembled before President Donald Trump tours an Apple manufacturing plant in Austin, TX.
US Manufacturing Contracts for Fourth Straight Month
Economists had expected the overall November index to rebound but remain below 50.
Dec 2nd, 2019