Monday 8 February 2016

World's Largest Energy Trader Sees a Decade of Low Oil Prices - Bloomberg Business

World's Largest Energy Trader Sees a Decade of Low Oil Prices - Bloomberg Business:

"Oil prices will stay low for as long as 10 years as Chinese economic growth slows and the U.S. shale industry acts as a cap on any rally, according to the world’s largest independent oil-trading house.

 "It’s hard to see a dramatic price increase," Vitol Group BV Chief Executive Officer Ian Taylor told Bloomberg in an interview, saying prices were likely to bounce around a band with a mid-point of $50 a barrel for the next decade.
"We really do imagine a band, and that band would probably naturally see a $40 to $60 type of band," he said. "I can see that band lasting for five to ten years. I think it’s fundamentally different.""



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