The Oil Industry Got Together and Agreed Things May Never Get Better – Bloomberg Business

Producers are bracing for a tough year. Prices will stay low for up to a decade as Chinese economic growth slows and the U.S. shale industry acts as a cap on any rally, according to Ian Taylor, chief executive officer of Vitol Group, the world’s largest independent oil trader. Even refiners, whose profits have held up better than expected, are seeing a worsening outlook.

via The Oil Industry Got Together and Agreed Things May Never Get Better – Bloomberg Business.

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About marypmadigan

Writer/photographer (profession), foreign policy wonk (hobby).
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