Suncor CEO says current oil prices unsustainable

(In U.S. dollars)

CALGARY, Alberta, April 24 (Reuters) - Current oil prices of around $115 a barrel are not sustainable over the long term, but the oil industry needs at least $75 a barrel to bring on increasingly tougher-to-find reserves, Suncor Energy Inc (SU.TO: Quote, Profile, Research) Chief Executive Rick George said on Thursday.

"To keep those new supplies coming on, which are going to be smaller and smaller, you're going to need a good oil price. I just don't think you're going to need $115," George told reporters after Suncor's annual meeting.

He said the current floor for the industry to operate could be in the $75-$80 a barrel range. (Reporting by Jeffrey Jones; Editing by Peter Galloway)