Top oil trader warns shaky demand risks thwarting OPEC’s aim - BBG

Vitol Group, the world’s biggest independent oil trader, warns that OPEC efforts to curb oil supplies in a bid to prop up prices could be in vain, in the wake of shaky       demand.

Key Quotes via Bloomberg:

“What we need is real demand growth, faster demand growth” 

“Growth is there, but not fast enough”

“If demand goes back to where it should, where it’s forecast, then it’ll help, but my gut feel tells me it is still a bit long” 

“The oil market is looking for growth but there’s no growth” 

“And while U.S. gasoline consumption is expected to hit its seasonal summer peak soon, demand growth is not there yet”

“I am still watching the U.S. summer gasoline demand”

“OPEC has said it will try and extend its output cuts beyond June. So if that happens, and the discipline is good, and if the U.S. lack of growth in demand changes into summer, then we may see oil go back to the low $50s, but the prevailing mood today is not.”