Vitol says oil prices could head even higher – tight supply

Via Bloomberg (may be gated) :

  • prices could go up higher
  • supplied are tight

Cited gas:

  • What’s happening with gas “serves to remind us that people will abstain from buying expensive energy at some point,” he said on a webinar hosted by Dubai-based consultancy Gulf Intelligence. “The question is at what point that affects the oil market.”

Also, on China (this via Platts (may be gated) ):

  • “It doesn’t look like China is going to shrink its [oil] demand,” Mike Muller told an online conference organized by Dubai-based Gulf Intelligence. “The fabric of society is still heavily oriented towards manufacturing and energy-consuming businesses,”
  • “Yes there have been some very high profile cases of people moving around China transmitting omicron from one place to another….but we are nowhere near seeing a major demand hit,”

In the wake of the SPR release, from the US and some Asian countries

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