And who is Vitol you ask? Links below.
From Reuters Africa:
* See prices returning to $90-$100/bbl if OPEC actsBack in 2008 we posted "Vitol ‘not in the business of speculation’".
* Comment comes as OPEC meets consumers in Riyadh
By Christopher Johnson
LONDON, Feb 22 (Reuters) - OPEC will produce more crude should Libyan oil supply be disrupted to allow prices to return to the $90-$100 per barrel range, the head of top world oil trading house Vitol said on Tuesday.
"We all think they (OPEC) will move quickly if there is a significant disruption in Libya," Vitol's Ian Taylor said at an event during the International Petroleum Week.
"If OPEC puts more barrels into the market, as we expect to happen at some time in the first half of the year, prices should stabilise below current levels and move back to a price range around 90 to 100 (dollars)," he said....MORE
Saracen Attempts the Reverse Amaranth and...Yes!... Sticks the Faceplant Landing!And the latest, from the Wall Street Journal:
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They do move some oil around.