Oil Prices May Take Three Years to Normalize, BMO’s Downe Says

It’s unrealistic to expect a speedier rebound, CEO says

Oil slump has hallmarks of `significant downturn’ of 1986.

Oil prices won’t return to more normal levels for two or three years, and those expecting a speedy rebound from this month’s 12-year lows are being unrealistic, Bank of Montreal Chief Executive Officer William Downe said.

“It’s unrealistic to believe it’s going to snap back,” Downe said in an interview Friday in Davos, Switzerland. “Prices will normalize and then start to move up.” Read more

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