Vitol, a global?commodities?trading?house, said on Tuesday that it would increase its revenues and trade more oil by 2025 as compared to 2024.

The firm reported that the trading house's turnover grew by 3.6% last year to $343 billion, with its traded oil volumes increasing to 8 million barrels a day (bpd) in 2024 from 7.2 millions bpd.

Vitol stated that it was "well-positioned" to face the market volatility and disruptions of 2026, which are inevitable consequences of the events in the Middle East. The company's turnover rose in the last year, after falling by 18% to $331 billion?in 2024. The company stated that Vitol’s long-term asset portfolio is valued at more than $13billion. Privately-owned Vitol doesn't disclose its net profit figure. Reporting by Robert 'Harvey, based in London and Anushree?Mukherjee and Ashitha?Shivaprasad from Bengaluru. Editing by Paul Simao.

(source: Reuters)