Vitol CEO Sees Oil Recovery This Year After Big Slump From Virus

The video discusses the impact of market volatility and a significant demand loss of 200 million barrels in the first quarter. It highlights the market's response, including price adjustments and supply cuts, particularly in Venezuela and Libya. The discussion also covers the role of OPEC in rebalancing the market and the potential for price recovery. Optimism for the second half of the year is expressed, with expectations of a price range between $60 and $70, contingent on developments in Libya and OPEC's actions.

What was the estimated loss in oil demand during the first quarter?

• 300 million barrels

• 200 million barrels

• 400 million barrels

• 100 million barrels

What is the mainstay of the business discussed in the video?

• Volatility trading

• Oil exploration

• Blending and arbitrages

• Renewable energy

Which two countries were mentioned as having significant supply impacts?

• Russia and China

• Saudi Arabia and Iran

• Canada and Mexico

• Venezuela and Libya

What is the expected price range for oil in the coming months according to the discussion?

• $50 to $60

• $60 to $70

• $70 to $80

• $80 to $90

What metaphor was used to describe the coronavirus impact on the market?

• A house on fire

• An earthquake

• A storm

• A tidal wave