Oil Demand Will Outpace Supply in 2017: Statoil CFO

Bloomberg Video

Nov.29 -- Oil supply and demand fundamentals still work, Statoil CFO Hans Jakob Hegge says in an interview with Anna Edwards and Yousef Gamal El-Din on "Bloomberg Daybreak: Europe." Hegge believes a 5-10 per cent price rise may boost U.S. shale activity and while capacity reduction in supplier market has been significant, there will be “some time” before actual production catches up. He adds Statoil is not dependent on potential OPEC deal “because we think we’ll have an uptick in the prices during next year.” (Corrects title of guest in headline.)