Vitol CEO speaking in Bloomberg intervieew.

  • he sees oil prices at $100+ for 'a prolonged period' at some point in the next 6-9 months
  • supply will continue struggling to catch up with 'surging' demand in the second half of this year
  • says shale production is constrained and is not going to be solving the market's shortage
  • expects Iran to add around a million barrels

Quick video interview is here.

In the wake of the SPR release, from the US and some Asian countries