Oil Vitol generates less turnover in 2024
Raw materials trader Vitol achieved lower sales in the 2024 financial year. Due to lower energy costs and reduced price fluctuations, revenue fell to USD 331 billion from USD 403 billion in the previous year.
24.03.2025, 14:00
24.03.2025, 14:01
SDA
The daily trading volume of crude oil and oil products fell slightly to 7.2 million barrels per day, as the company announced on Monday. Demand for petrol and diesel for road transportation in particular fell. This was largely offset by increases in kerosene and crude gasoline.
In contrast, trading volumes for liquefied petroleum gas increased significantly. Here, sales rose by 10 percent to 19.4 million tons of crude oil equivalents, according to the report. Demand from Asia was particularly strong.
Looking ahead to the coming years, Vitol expects global demand for energy to continue to rise despite ongoing decarbonization. While demand for oil is likely to decline in the long term, there is still potential for renewable energy sources and metals.
