Conoco CEO sees Return to $40s Unlikely, Demand Growth Doubling
VIENNA, June 4 (Reuters) - ConocoPhillips Chief Executive Ryan Lance speaking on Thursday at OPEC's seminar in Vienna:
"We do see demand rising slightly so it does provide some support for prices."
"It is hard to envision it (the oil price) going back down to the $40s."
"We see world restoring demand (growth) to 1.1 or 1.2 million bpd...double what it was over the past few years".
On U.S. shale production outlook: "If prices stabilize or improve a bit you will see rigs come back into 2016 and 2017."
U.S. tight oil industry "will survive at $100 and it will survive at $50 or $60 Brent pricing too."
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