BP CEO hints at a roller‑coaster for oil prices as Iran sanctions loom
In a chat with CNBC, BP’s chief executive Bob Dudley warned that oil prices could experience “45 days of extreme volatility” once U.S. sanctions against Iran take effect next month.
Market reactions so far
- Benchmark Brent has dipped 40 cents a barrel, trading at $84.60 today.
- Analysts note that the market is on edge over global supply concerns and the November 4 sanctions deadline.
Why the tension?
Industry players are watching closely to see how the sanctions could disrupt a key oil supply chain. Meanwhile, the International Monetary Fund cut its global growth forecasts for 2018 and 2019, suggesting that demand for crude might slow down.
Bob’s outlook
“I think it’s going to be 45 days of extreme volatility,” he said. “It could spike up, it could also go the other way.”
With the next few weeks full of uncertainty, investors are keeping a tight eye on whether oil prices will surge or slide. Stay tuned for real‑time updates – subscribe now for the latest insights.
