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Ian Taylor, president and chief executive officer of Vitol Group
Trading house Vitol believes physical oil assets in the United States may have become a bit too pricey, potentially cooling appetite for them among trading houses that once viewed the U.S. oil industry as a prime acquisition target.
Two years ago, as the U.S. shale oil boom flooded the world with excess oil and the country’s drivers began fueling up in record numbers on the cheaper gasoline, trading houses described U.S. assets as a “Klondike” gold rush.
Now, Vitol chief Ian Taylor says trading houses are being crowded out of…
