Gunvor projects cap on oil price hikes in 2019

The world's leading petrostates are not interested in oil prices becoming too high, says oil trader Gunvor, which expects that scrubbers will secure continued high demand for high-sulfur fuel oil.

The world's leading oil-exporting countries are not interesting in the price of oil becoming too high and will cap oil prices around USD 75 dollars per barrel in 2019, according to an evaluation from one the world's largest oil traders, Gunvor, Reuters reports.

"Except for a few nations which are perhaps less important than Russia and Saudi Arabia volume-wise, I don't see anybody wanting USD 85 oil," says Gunvor Chief Executive Torbjörn Törnqvist, as cited by Reuters.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Vestas confirms spread of stolen data

Data from the OEM's IT systems have been stolen and offered to a third party, informs Vestas, which has "reasons to believe" that the leaked data mainly pertains to internal company matters, says CEO.

Further reading

Related articles

Latest News

See all jobs