Vitol CEO sees oil priced between $40 - $60 for a decade - Bloomberg

In an interview with Bloomberg, the world’s largest independent oil-trading house, Vitol Group BV’s Chief Executive Officer Ian Taylor noted that oil prices are expected to remain between $ 40-$ 60 for ten years amid China growth concerns and increasing US shale output.

The oil trading house trades around 5mbpd in crude and refined products.