BP’s Looney sees case for ‘strong’ oil prices in coming years

Global oil prices will likely be supported by growing demand, greater OPEC+ discipline, and slowing US output growth in the short and medium term, BP CEO Bernard Looney said Aug. 1. Despite lingering concerns about the speed of China’s economic rebound from COVID-19 and risks to global growth from high interest rates, Looney said he expects to see oil demand…