February 22, 2018 / 9:00 AM / 3 months ago

Vitol's Chris Bake sees 'fairly strong' oil demand in 2018

LONDON, Feb 22 (Reuters) -

* Vitol executive committee member Chris Bake said 2018 oil demand is looking “fairly strong”

* “OPEC remains disciplined and the consequences are visible in track down in inventories...Half a billion barrels of oil has been drawn down in a short period of time”

* Bake said it was difficult to determine whether the industry had overbuilt incremental storage as reasons other than market structure play a role, such as changing trade patterns (Reporting by Julia Payne; editing by Jason Neely)

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