Ridgebury Tankers chief executive Bob Burke has shot down concerns of a cut in oil production in the face of “unsustainable” pricing.
Burke believes oil producing countries have invested significant energy and resources into a war of attrition with a long term view.
“If you notice they call it a war of attrition. It’s not a contest of attrition,” he said. “It’s not as though after 60 minutes the match is over everybody shakes hands and says ‘I won, I got the high score on oil production’.”
