October 9, 2018 / 5:32 PM / 2 months ago

Oil market well supplied, Total CEO says

LONDON (Reuters) - The oil market is well supplied and the recent oil price rally to a four-year high was driven primarily by political concerns, Total Chief Executive Patrick Pouyanne said on Monday.[O/R]

“The market is well supplied. Inventories are continuing to grow ... prices are high not because of demand but because of political issues,” Pouyanne told the Oil & Money conference.

Reporting by Ron Bousso; Editing by David Goodman

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