Singapore — Global oil markets remain very tight and heavily backwardated as demand recovers back to pre-pandemic levels, Trafigura’s Chief Executive Officer Jeremy Weir said on Tuesday.
“We are seeing a very, very tight oil market but it’s not artificially tight because of what OPEC is doing. Demand is there,” he said at the FT Commodities Asia Summit.
- Reuters (Reporting by Singapore energy team; Editing by Christian Schmollinger)
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