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Oil Trading House Vitol Sees OPEC+ Extending Production Cuts - Bloomberg
Oil Trading House Vitol Sees OPEC+ Extending Production Cuts  Bloomberg

Vitol Group, the world’s largest independent oil trader, expects OPEC and its allies to extend their production cuts into the second half because of the uncertain market outlook. "We expect them to roll" over current output targets, Vitol Chairman Ian Taylor said in an interview with Bloomberg Television on Monday. "It’s the easiest thing to do." Taylor described a market caught between two opposing forces. On one side, financial investors are selling oil contracts because they’re worried about the impact of the deepening trade war between the U.S. and China. On the other, the supply and de...

Admin 04.06.2019 0 70
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