Amsterdam-Sana
Global energy trading company Vitol expects oil demand in the current world to exceed pre-coronavirus levels in 2019.
And Reuters news agency quoted the CEO of the company, Russell Hardy, as saying in a statement about the group’s results for the previous year, “While we expect demand for oil to decline in the long term, it is likely that demand will continue to grow for the next ten years... and given the limited investment in production, we expect it to expand.” The demand gap over the next few years.”
Hardy added that "the increased demand for oil, accompanied by a restrained growth in production, caused crude stocks to fall by two million barrels per day to their lowest levels in several years," adding that "a shortage of supply in the energy markets was already present before the outbreak of the crisis in Ukraine."
Hardy pointed out that the gas and electricity markets suffered unprecedented volatility in early autumn in Europe and last December due to fears of a shortage of supply.
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