Vitol Earned Over $8 Billion Last Year as Trading Boom Persists
Privately-held Vitol is one of the world’s biggest commodity traders, handling enough oil every day to supply the combined demand of France, Germany and Spain.
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Commodity giant Vitol Group generated earnings of over $8 billion in 2024, according to people familiar with the matter, cementing its position as by far the most profitable energy trading house.
Full-year earnings fell from $13.2 billion in 2023, but were still sharply higher than Vitol’s profit until 2022, when Russia’s full-scale invasion of Ukraine spurred sharp price spikes that fueled record returns across the commodity trading industry.