RMI forum sees good oil, gas profits for short term

Current high oil and gas prices are sustainable, at least for the next few years, which will be very good for the energy industry, according to panelists at the RMI Oilfield Breakfast Forum held last month in Houston.Profits will continue because oil and gas supplies will be low, with US demand rising faster than production—and total world demand increasing by about 1 million b/d/year—and because the Organization of Petroleum Exporting Countries will continue to maintain the price of oil at $25-28/bbl for an OPEC crude basket. Marshal Adkins, managing director and head of energy research, Raymond James & Associates Inc. Click here to enlarge image"We are drilling deeper an...

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