Surging Fuel Costs Are Causing Demand Destruction, Says Vitol
- ‘There’s very clear evidence of economic stress,’ says Vitol
- Comments come after gasoline, diesel prices hit record in US
WATCH: Russell Hardy, Group CEO of Vitol, discussed the future of the global energy market at the 2022 Qatar Economic Forum in June.
Source: BloombergThis article is for subscribers only.
The global surge in the cost of fuel is starting to weigh on demand, according to the world’s biggest independent oil trader.
Consumers are being hit by the run-up in gasoline, diesel and other oil products, Mike Muller, head of Asia at Vitol Group, said Sunday on a podcast produced by Dubai-based Gulf Intelligence.