March 26, 2018 / 7:38 PM / a year ago

WPX Energy CEO sees crude demand rising despite electric cars

A WPX Energy natural gas drilling rig in Parachute, Colorado, December 10, 2014. REUTERS/Jim Urquhart

NEW ORLEANS (Reuters) - U.S. shale producer WPX Energy Inc expects strong crude oil demand for the foreseeable future and does not expect it to be dented by the rise of the electric car, its chief executive said on Monday.

“We’re still going to see tremendous demand for crude oil,” Rick Muncrief said at the Scotia Howard Weil conference in New Orleans. “I’m more bullish on the future of our commodity (oil) than I have been for some time.”

Reporting by Ernest Scheyder; Editing by David Gregorio

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