European Oil Majors Out-Traded U.S. Peers In 2020

Last year might have been a harrowing one for oil markets, but dozens of big-time oil traders netted tons of profit harnessing the volatility opportunities. Exxon wasn't among them.  The American oil giant appears to have failed where its giant European counterparts excelled, according to an eye-opening Reuters report detailing how the supermajor cut funding for its trading unit and relegated it to the sidelines amid a COVID-19 pandemic that others capitalized on, heartily.   While Dutch energy and commodity trading giant Vitol raked…