Baku, February 25, AZERTAC
The world's largest energy trader says oil prices are set to rally further as OPEC output cuts and American sanctions on Iran and Venezuela cause a "shortage" of the low-quality heavy crudes refiners rely on.
"From here there's probably the potential to be a little bit higher," said Russell Hardy, chief executive officer of Vitol Group. "Oil supply is going to be pretty tight until the third quarter," he said.
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