Crude prices will continue to rise this year and that means some oil companies will probably start spending money again, two industry chief executives said Tuesday.
Superior Energy CEO David Dunlap anticipates prices will hit $60 per barrel by the end of the year.
“In the second half we’re going to continue to see prices migrate up as the market begins to realize that non-OPEC production is coming down, including shale production here in the U.S., and we’re going to be getting closer and closer to that supply-demand balance,” he said in an interview with CNBC’s “Power Lunch.”
