The world’s largest energy traders enjoyed one of their best ever years in 2019 as pipeline outages, dramatic changes in ship fuel regulations and Middle East conflicts shook up the global oil market.
The bonanza extended beyond the independent traders like Vitol Group and Trafigura Group Ltd. to the in-house units of oil giants Royal Dutch Shell Plc, Total SA and BP Plc, which made billions of dollars in profits.
“By all accounts, 2019 was among the best years ever for the energy trading industry,” said Marco Dunand, the chief executive of Mercuria Energy Group Ltd., one of the five largest independent oil traders.
