{"id":420653,"date":"2021-06-16T08:49:51","date_gmt":"2021-06-16T03:19:51","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=420653"},"modified":"2021-06-16T09:23:52","modified_gmt":"2021-06-16T03:53:52","slug":"major-traders-see-oil-staying-above-70-barrel-100-not-impossible","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/major-traders-see-oil-staying-above-70-barrel-100-not-impossible\/","title":{"rendered":"Major traders see oil staying above $70\/ barrel, $100 not impossible"},"content":{"rendered":"<p>LONDON (Reuters) &#8211; The world&#8217;s biggest oil traders said on Tuesday they see oil prices staying above $70 a barrel with demand expected to return to pre-pandemic levels in the second half of 2022. <\/p>\n<p>Oil prices crashed in April last year when the COVID-19 movement restrictions hit their peak with the U.S. crude benchmark turning negative for the first time. <\/p>\n<p>In a stark reversal, the traders do not discount a return to $100 per barrel oil further ahead. <\/p>\n<p>Vitol Chief Executive Russell Hardy sees the oil moving between $70 and $80 a barrel for the remainder of 2021 on the expectation that the Organization of the Petroleum Exporting Countries and its allies (OPEC+) keep supply discipline, even as Iran&#8217;s exports may resume if the United States rejoins a nuclear agreement with Tehran.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON (Reuters) &#8211; The world&#8217;s biggest oil traders said on Tuesday they see oil prices staying above $70 a barrel with demand expected to return to pre-pandemic levels in the second half of 2022. Oil prices crashed in April last year when the COVID-19 movement restrictions hit their peak with the U.S. crude benchmark turning negative for the first time. In a stark reversal, the traders do not discount a return to $100 per barrel oil further ahead. Vitol Chief Executive Russell Hardy sees the oil moving between $70 and $80 a barrel for the remainder of 2021 on the [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-420653","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/420653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=420653"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/420653\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=420653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=420653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=420653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}