Vitol CEO sees oil priced between $40 – $60 for a decade – Bloomberg

In an interview with Bloomberg, the world’s largest independent oil-trading house, Vitol Group BV’s Chief Executive Officer Ian Taylor noted that oil prices are expected to remain between $ 40-$ 60 for ten years amid China growth concerns and increasing US shale output.

The oil trading house trades around 5mbpd in crude and refined products.

In an interview with Bloomberg, the world’s largest independent oil-trading house, Vitol Group BV’s Chief Executive Officer Ian Taylor noted that oil prices are expected to remain between $ 40-$ 60 for ten years amid China growth concerns and increasing US shale output.

(Market News Provided by FXstreet)

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