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Top Oil Trader Vitol Says Europe Lockdowns Mere ‘Speed Bump’

  • Global oil inventories are falling, says Vitol Group’s Muller
  • Brent crude prices dropped 10% last week to lowest since May
Energy demand in Europe is being hit by a new wave of coronavirus lockdowns.

Energy demand in Europe is being hit by a new wave of coronavirus lockdowns.

Photographer: Andy Buchanan/AFP via Getty Images

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The world’s largest independent oil trader doubts that new coronavirus lockdowns in Europe will lead to another significant drop in crude prices following last week’s rout.