Refining: Valero sees refining recovery

摘要

US crude processing rates are creeping higher with recovering fuel demand, US independent refiner Valero said on 22 April. Rising US consumer confidence and export fuel demand supported the steadily higher crude rates refiners have looked for this year. Valero, one of the largest US independent refiners, expects a surge in summer holiday travel to lift fuel sales out of a year-long funk. US gasoline demand had returned to about 93pc of seasonal levels before efforts to contain Covid-19 sharply reduced global fuel consumption, Valero said. US diesel demand was already back to normal, boosted by agricultural demand in the midcontinent.