{"id":438734,"date":"2021-09-28T11:02:07","date_gmt":"2021-09-28T05:32:07","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=438734"},"modified":"2021-09-28T11:50:46","modified_gmt":"2021-09-28T06:20:46","slug":"vitol-ceo-sees-global-gas-market-set-for-reasonably-bullish-5-year-outlook","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/vitol-ceo-sees-global-gas-market-set-for-reasonably-bullish-5-year-outlook\/","title":{"rendered":"Vitol CEO sees global gas market set for reasonably bullish 5-year outlook"},"content":{"rendered":"<p>Global gas prices are at &#8220;extreme levels&#8221; due to low inventories and strong demand in Europe and China, and the market is set for a reasonably bullish five-year outlook, said Russell Hardy, chief executive officer of Vitol.<\/p>\n<p>In a pre-recorded interview for the 2021 edition of the annual Platts APPEC conference, Hardy said global oil market has had a &#8220;pretty orderly&#8221; 2021 thanks in part to supply management by the global producers, but overall demand remained 4 million barrels per day behind the pre-COVID-19 levels of 2019.<\/p>\n<p>Extreme cold weather last winter thinned natural gas stocks in the West and inventories have failed to be rebuilt in time, resulting in record prices near $26 per million British thermal units (mmBtu).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global gas prices are at &#8220;extreme levels&#8221; due to low inventories and strong demand in Europe and China, and the market is set for a reasonably bullish five-year outlook, said Russell Hardy, chief executive officer of Vitol. In a pre-recorded interview for the 2021 edition of the annual Platts APPEC conference, Hardy said global oil market has had a &#8220;pretty orderly&#8221; 2021 thanks in part to supply management by the global producers, but overall demand remained 4 million barrels per day behind the pre-COVID-19 levels of 2019. Extreme cold weather last winter thinned natural gas stocks in the West and [&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-438734","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\/438734","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=438734"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/438734\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=438734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=438734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=438734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}