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Vitol CEO sees oil prices heading towards $50 a barrel

FILE PHOTO: Vitol CEO Russell Hardy speaks during the 20th Asia Oil & Gas Conference in Kuala Lumpur, Malaysia June 24, 2019. REUTERS/Lai Seng Sin

LONDON (Reuters) - Oil prices will be heading into the high $40 a barrel range or even $50 in the next few months as inventories modestly draw during the winter and this accelerates during the middle of 2021, Vitol Chief Executive Russell Hardy said on Tuesday.

Benchmark Brent crude LCOc1 was trading at almost $43 a barrel on Tuesday.

Reporting by Dmitry and Julia Payne; Editing by Emdund Blair

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