Vitol chief executive Ian Taylor said profitable trading opportunities created by the oil crash have been sharply diminished in 2015, with crude prices now appearing to have bottomed.
Mr Taylor — who has shaped Vitol into the world’s largest independent oil trader during his 20 years leading the company — said the slower-than-expected return of Iran’s oil exports and growing demand meant the price crash was probably over.
“Yes we have seen a bottom,” said Mr Taylor, speaking ahead of his appearance at the FT Commodities Global Summit in Lausanne, Switzerland, on Tuesday. “Especially if the barrels from Iran have been delayed until later this year.”
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