- Associated Press - Thursday, September 22, 2016

LAFAYETTE, La. (AP) - The president and CEO of Stone Energy Corp. in Lafayette says he’s confident the oil and gas industry will bounce back.

The Advertiser (https://bit.ly/2cu3YOL ) reports that David Welch told the quarterly meeting of the Louisiana Oil & Gas Association on Wednesday that as the world population grows so will the demand for energy. Welch didn’t say specifically when he expects the industry to make a comeback, however.

He told the group that demand for oil will close the gap created by a current oversupply of oil. He predicted that as the oil supply shrinks prices will fall, creating a gradual recovery in the industry.

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Information from: The Advertiser, https://www.theadvertiser.com

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