Exxon's Tillerson: Dollar weakness adds $20-$25 to oil

Exxon Mobil CEO Rex Tillerson told a Singapore crowd the weak U.S. dollar has added $20 to $25 to the price of oil in recent years.

“I would say the behavior of the price is attributable maybe to the same kind of factors as when oil prices grew to $147, which I never understood,” he said at an APEC dinner, adding that there has been little pick-up in oil demand.

Some think Tillerson is just blowing smoke, however:

“This is the same personage who a while back informed us, his customers that “ethanol is moonshine,”” says Raymond Learsy on Huffington Post.