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Vitol's Bake Sees 'Strong' 2018 Oil Demand

February 22, 2018

Vitol executive committee member Chris Bake said 2018 oil demand is looking "fairly strong."
 
"OPEC remains disciplined and the consequences are visible in track down in inventories...Half a billion barrels of oil has been drawn down in a short period of time," said Blake.
 

Bake said it was difficult to determine whether the industry had overbuilt incremental storage as reasons other than market structure play a role, such as changing trade patterns.

 

Reporting by Julia Payne 



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