'Sanity will come back' to Russia-Saudi oil feud: Precision Drilling CEO [Business News Network (BNN) Energy & Resources (Canada)]
Precision Drilling Corporation (PDS)
Last precision drilling corporation earnings: 4/30 06:00 am
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Source: Business News Network
'Sanity will come back' to Russia-Saudi oil feud: Precision Drilling CEO The chief executive officer of Precision Drilling Corporation says the ongoing oil price war between Russia and Saudi Arabia will come to an end, he just could not say when. “I don’t think anyone in Saudi Arabia or Russia wants to see WTI prices, or Brent prices in the US$20s or the US$10s,” Precision CEO Kevin Neveu told BNN Bloomberg in an interview on Monday. “So I do expect at some point in time some sanity will come back into that debate, but I’m not sure when or how long.” “We’re battened down waiting for that to play itself out.” Neveu said the worldwide impact of the COVID-19 pandemic may hasten the stalemate to a close. “I think they may be surprised by the way this world economy is turning now, and I’m expecting as prices push into the 20s now that eventually they’re going to come back to the table and re-open discussions,” he said. American West Texas Intermediate crude has plummeted in March, diving f
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