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

Vitol, the world’s largest independent energy trader, is shifting its focus to the metals market as global petroleum demand is projected to peak in about a decade, according to CEO Russell Hardy. Hardy highlighted the expected growth in the metals industry during the electrification phase, particularly in steel, iron ore, copper, and aluminum markets. Vitol’s recent acquisitions and hiring of metal traders demonstrate its strategic move towards expanding its presence in the metals sector.

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