Top trader Vitol eyeing metals market as global oil demand set to peak in 10 years, CEO signals

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In contrast to the eventual decline of the crude industry, metals business is going to witness a “great deal of growth,” CEO Russell Hardy said.

Vitol is eyeing the metals market with global petroleum demand expected to peak in a decade, signaled Russell Hardy, CEO of Vitol.

SINGAPORE — Vitol is eyeing the metals market with global petroleum demand expected to peak in a decade, signaled Russell Hardy, CEO of Vitol, the world's largest independent energy trader."The petroleum, the oil business, we still think it will reach a peak at some point, about 10 years ahead from where we are today," Hardy said on Thursday at the Financial Times Commodities Summit in Singapore.

"So we quite like the idea of being involved in the bigger metal markets. And the three bigger metal markets are steel and iron ore, copper and aluminum," he said.been eyeing the metals space as they explore opportunities Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly

 

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