There’s no easy way out of the global oil glut that’s caused a historic, and occasionally bizarre, collapse in crude oil prices this spring, according to a long-time commodity-focused hedge-fund manager who has scored big gains during the market’s slide.

The next four to six weeks are all but certain to see continued increases in crude oil inventories as a result of the demand destruction wrought by the Covid-19 pandemic and a reluctance until recently by major producers to curb output, said Doug King, co-founder and chief investment officer of the London-based Merchant Commodity Fund, in a Wednesday interview. That could translate into “extreme weakness” over that stretch, he said.