CEO of Vitol expects crude to be fairly stable around $80 a barrel in 2024 | Forexlive

CEO of oil and gas trader Vitol, Russel Hard, was speaking at the Energy Institute conference on tuesday.

• crude oil expected to be fairly stable this year at around $80 a barrel,
• “The crude market is much less fragile than a couple of years ago,”
• Western sanctions on Russia “have been absorbed” in the market

More broadly:

• fossil fuel demand is set to plateau later than previously expected due to a slower pace of the energy transition
• “Oil demand has a good few number of years still to climb”

On natural gas, Hardy said that European households reduced their energy consumption by 10% to 12% this winter compared to pre-Ukraine war levels.

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Info via Reuters, here is a little more there.