Vitol Group CEO Russell Hardy says he sees oil prices at $100+ for ‘a prolonged period’ at some point in the next 6-9 months. Oil prices could be set for a “prolonged period” above $100 a barrel over the next six to nine months, with the world setting fresh demand records this year, said Vitol Group Chief Executive Officer Russell Hardy. Crude already surged to within a few dollars of that level earlier this month, as the recovery in fuel use from the pandemic started to run into supply constraints. In an interview in London with Bloomberg television, the boss of the world’s largest independent oil trader said the market will get tighter, with daily consumption set to rise well above pre-Covid levels by the end of 2022. “The 100 million-barrel number is probably going to be exceeded this year,” Hardy said. “Demand is going to surge in […]