Vitol hit record numbers of fuel handled in 2016

Oil trading giant Vitol handled record amounts of fuel during 2016 with more than 7 million barrels of oil, petrol and diesel moved a day.

Despite turnover loses Vitol, the world´s biggest independent oil trader, moved almost 2.6 billion barrels of crude oil and refined products last year, a 16% increase compared to 2015, explained the company in an annual review.

Although Vitol hit record numbers in terms of handled quantities, low oil prices during 2016 hit the company´s turnover, decreasing from $168 billion in 2015 to $152 billion last year, reports the Financial Times.

Increased demand coming from the U.S. and Australia, as well as from developing markets such as Africa, boosted Vitol´s trading volumes for gasoline (+44%), diesel (+26%) and liquefied petroleum gas, which experienced a 131% growth.