FILE PHOTO: Vitol CEO Russell Hardy speaks during the 20th Asia Oil & Gas Conference in Kuala Lumpur, Malaysia June 24, 2019. REUTERS/Lai Seng Sin
“The market is slowly chewing through that excess inventory,” he said, adding that about 300 million barrels have been drawn down from this year’s peak and the company expects a similar volume to be taken out by year-end. “That’s normal oil demand with the exception of jet fuel. Jet has got a long way to go as this conference is evidence to people are not moving around,” Hardy said.
What are those levels? It's still $3.50/gal here. Never really changed.
That new normal sure is old
How would he know?
sounds like you need to drop diesel prices for the trucking companies to keep deliveries cheaper...
Angela Merkel wants a financial CONTRIBUTION from ALL car manufacturers, oil industry & Insurance companies to maintenance & securing (PEDESTRIAN-BICYCLE) of public roads paid by taxpayers, they alone have enabled the growth of these industries with EXCLUSIVELY private profits
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