BP's Dudley Sees Oil at $55 a Barrel in 2017

The transcript discusses future oil price expectations, highlighting a potential range between $50 and $55. It addresses the current imbalance in global supply and demand, noting increased demand and declining production investments. Key players in oil discussions, such as the Gulf states, Russia, and Iran, are identified as needing to reach agreements. Russia's significant role in oil production and its involvement in technical discussions with OPEC are emphasized.

What is the expected oil price range for the next year?

• $70 to $75

• $60 to $65

• $50 to $55

• $40 to $45

Which countries are primarily involved in reaching oil agreements?

• Brazil and Argentina

• USA and Canada

• China and India

• Gulf states, Russia, and Iran

What is the current state of daily oil production?

• Overproduction by millions of barrels

• Balanced within a few hundred thousand barrels

• Severe underproduction

• No significant production

How many barrels of oil does Russia produce daily?

• 11 million

• 5 million

• 8 million

• 15 million

What is Russia's involvement in the oil market?

• Minimal involvement

• Key player in technical discussions with OPEC

• Only a consumer

• Focuses on renewable energy