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Get latest articles and stories on Business at LatestLY. According to S&P Global Commodity Insights, Russell Hardy, the CEO of Vitol, delivered this forecast, indicating that spot crude prices could surge to USD 100/b later this year if Organization of the Petroleum Exporting Countries (OPEC+) continues its production discipline and persists in withholding crude from global markets. Business News | Crude Oil Prices Can Hit USD 100 a Barrel in 2024 if OPEC Maintains Cuts: Vitol CEO Russell Hardy.

The world’s largest independent oil trader sees crude oil prices trading in the range between $80 and $100 per barrel this year.

Oil prices will trade in a range of $80-$100 per barrel and global oil demand will grow by 1.9 million barrels per day in 2024, Russell Hardy, chief executive of the world's largest energy trader... -April 09, 2024 at 05:30 am EDT - MarketScreener

Commodities traders earned record profits in 2023 as prices for items ranging from gold and oil to copper and corn remained elevated. Commodities brokers have been enjoying windfall profits ever since Russia invaded Ukraine in early 2022, disrupting ...

The world’s top independent oil trader, Vitol, booked a net profit of $13 billion for 2023, wrapping up a second consecutive year of very high net income following record 2022 earnings, the Financial Times reported on Monday, quoting sources familiar ...