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Oil Above $55 Is a Long-Term Inevitability, Maersk CEO Says

  • CEO sees global demand pushing oil price higher over time
  • Maersk still targets acquisitions in North Sea, Andersen says
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After testing a 12-year low, the price of oil simply has to go up.

That’s according to the chief executive officer of shipping and oil giant A.P. Moeller-Maersk A/S, who says 2015’s average crude price of $54 a barrel is too low for the industry to produce enough oil to satisfy global demand.