China’s restocking effort could be the next bullish catalyst for oil Vitol executive: China doesn’t appear to be as sensitive to high oil prices as South Asian nations are The most recent positioning of the money managers shows there is still room for more long positioning in oil Even after hitting $93 per barrel last week, oil prices have further room to rise in the coming months, with the $100 oil forecast of major investment banks now in sight. Robust oil demand and the headroom for money managers to expand their long positions in the crude complex, combined with shrinking global spare production capacity and “worrisome” inventory levels, could push oil prices even higher, the world’s largest independent oil trader, Vitol Group, says. Demand recovery and the mild impact of the Omicron variant on consumption, alongside the Russia-Ukraine crisis and a deep freeze in Texas that disrupted some Permian […]