(CNBC) — ‘Superstorm’ Sandy is set to inflict a negative hit on demand for crude oil as U.S. East Coast refineries come to a standstill, but BP’s Chief Executive Bob Dudley has told CNBC that oil firms are set to bounce back quickly.
“I think it will bounce back very fast, the distribution system there is very efficient. I think we, and other companies, will get product in there,” he told CNBC Tuesday.
The supply of gasoline, diesel and jet fuel for the east coast of the U.S. almost ground to a halt on Monday as the bad weather forced the closures of two-thirds of the region's refineries, according to Reuters.
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