He told Reuters levels may drop again, but are unlikely to hit new depths due to strengthening demand.
Low crude prices have benefited shipowners by cutting fuel costs, but the offshore industry has been hit by the knock-on effect to oil companies.
Brent crude plunged 60% percent to just above $45 a barrel in January.
"We will probably see one more dip in the second quarter but prices probably won't go below this year's lows," Taylor said.
"Gasoline
