Vitol: Oil Is Underpriced For Current Supply Risks ...Middle East

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Vitol: Oil Is Underpriced For Current Supply Risks
source : OILPRICE ( Middle East ) () 22
The recent slump in oil prices does not reflect the actual risk of Russian supply disruption, a senior executive of Vitol has warned. Brent crude dropped from close to $140 per barrel right after the start of the war in Ukraine to $104 per barrel last week as the United States and the International Energy Agency announced massive reserve releases. However, this would not be able to offset lost Russian barrels over the next few months, Bloomberg quoted Mike Muller, head of Vitol’s Asian operations, as saying. “Oil feels cheaper than…

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