2018-02-09

Gold & Silver? The Oil Market is Bigger Than ALL Metal Markets Combined


Oil production per year: 34 billion barrels (including other liquids)
Oil market size: $1.7 trillion* per year

Compare the annual market sizes of all major metals and minerals that are mined throughout the world:
  • Gold: $170 billion
  • Iron: $115 billion
  • Copper: $91 billion
  • Aluminum: $90 billion
  • Zinc: $34 billion
  • Manganese: $30 billion
  • Nickel: $21 billion
  • Silver: $20 billion
Other metals: $67 billion (including platinum, palladium, titanium, tin, moly, uranium, and more)

The total amount works out to $660 billion – just a fraction of the size of the oil market. Source: VisualCapitalist.com (*October 14, 2016)

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