Tue, 2021-09-28 16:46
RIYADH: The global oil inventories are now below the five-year average, a measure that shows the tightness in the market, according to a Vitol executive.
“An impressive 500-plus million barrels in inventory, we’re well below the five-year average,” Chris Bake, a member of the executive committee at Vitol, said in a virtual oil conference.
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Oil hits top price in 3 years as global recovery gathers pace