June 24, 2020 / 1:02 PM / 11 days ago

Mercuria sees oil stock draws of 2 million bpd in July: CEO

LONDON (Reuters) - Energy trader Mercuria expects oil stock draws to be around 2 million barrels per day from July as the global economy restarts after COVID-19 lockdowns, its chief executive told a Reuters webinar on Wednesday.

Mercuria’s CEO Marco Dunand said he saw the current oil surplus was around 800 million barrels versus last year, including 200 million barrels held by governments.

Dunand said he expected to see a price floor at around $40 a barrel in 2021.

(This story corrects erroneous Reuters Instrument Code)

Reporting by Julia Payne, editing by Louise Heavens

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