Commodity trade major Vitol reported a drop in its 2020 revenue to $140 billion from $225 billion a year earlier as the pandemic plunged its traded oil volumes sharply lower. The company said it had traded 7.1 million bpd of crude oil and products last year, down from 8 million barrels daily a year earlier. “It is just over 12 months since Covid-19 was declared a pandemic,” chief executive Russell Hardy said. “The virus shaped our business and our lives in 2020. The extraordinary market conditions in the initial stages of lockdown…
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