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Oil Demand Is Back at 2019 Levels and Set to Rise, Vitol CEO Says

  • Oil demand to exceed 2019 levels by early next year: Vitol
  • Price spike above $100 a barrel is a ‘possibility’: Vitol CEO
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The head of Vitol Group, the world’s biggest independent oil trader, said global demand has recovered to 2019 pre-pandemic levels and is poised to go even higher early next year.

Chief Executive Officer Russell Hardy said demand for oil will exceed 2019 levels during the first quarter of 2022. He spoke online at the Reuters Commodities Trading Conference on Tuesday.