OIL & GAS – 2
A continuing massive stock overhang could contribute to more volatility in the oil price over the coming months, says energy and commodities company Vitol global analyst Simon Warren. He told delegates at the yearly conference of the African Refiners Association (ARA), in Cape Town, that despite a cut in production by Organisation of the Petroleum Exporting Countries (Opec) members last year, there had been an increase in commercial stocks over the past couple of months.
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