Ian Taylor, president and chief executive of independent commodities trader Vitol Group said Wednesday that Oil prices will remain capped by surpluses for several years to come.
"I cannot see oil prices significantly above where we are," Taylor told the Oil & Money conference in London.
"Oil fundamentals have got spare capacity right through the system," Taylor said. "Even with strong economic growth, Vitol does not expect oil demand growth to absorb spare capacity for a number of years."
Check out the WSJ article Vitol CEO: Expects Oil Market Surpluses In Next 5 Years
Vitol Subsidiary Bids For Arawak
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Geneva, 27 October 2008: Rosco SA, a subsidiary of Vitol, has confirmed a
cash offer for Arawak Energy Limited. For further information, go to the
London S...
15 years ago
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