IP week gathering
Vitol CEO: Oil Prices to Bounce Around $40 – $60 a Barrel
Tuesday, 9th February 2016
Oil prices will stay low for the next ten years over Chinese economic slowdown and the US shale industry acting as a cap on any rally, Ian Taylor, CEO of Vitol Group BV, the world’s largest independent oil-trading house, told Bloomberg in an interview. Prices are likely to bounce around a band between $40 and $60 a barrel.