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