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US oil refiners beat Wall Street bets, expect demand to grow in 2024

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T Laura Sanicola gg Reuters . independ U.S. refiners posted combined adjusted earnings of $25.7 bill the fourth quarter rathon Petroleum, Phillips 66 and Valero Energy beat Wall Street's expectations in the fourth quart this year iners benefited from lower prices for 2023 de three during the quart U.S. fter Houthi rebel attacks drove up freight costs. Valero Energy ighLightText__NxlGi">David Gregorio$25.7 billion ss="summaryFeed_highLightText__NxlGi">Liz Hampton $33.9 billion eed_ 2022 LightText__NxlGi">Laura Sanicola Russia ss="summaryFeed_highLightText__NxlGi">Mandell of Phillips 66 11% p year-to-date mm Phillips highLightT about 9% Gi">l Valero ar's 8% span class="summaryFeed_highLightText__NxlGi">the spring maintenan this year the first quarter Matthew Blair _NxlGi">U.S. Tudor as Pickering, Holt & Co ightText__NxlGi">five-year 2.24 aryFeed_hig last quarter NxlGi">G Phillips 66 an> 3.09 ="summaryFeed_h Valero htText__N 3.55 ">Valero U.S. NxlGi">the second the quarter 4Houthi an class="summaryF the Red Sea htText__NxlGi">Nigeria 650,000 1 million this Gulf Coast n> Northwest Europe maryFeed_highLightT 2 xt__NxlGi">an additional 1.5 mill 6 on barrels Gary Simmons s="summaryFeed_highLightText__ Valero >U.S. EIA the f Valero alf of 202233 U.S. 6,000 north Atlantic ryFeed 24 ighLightText_ the Gulf Coast rst half the quarter pan> Phillips ryFeed_highLightText 14.41 Gi">138,000the fourth quarter ="summaryFeed 19.73 LightText_ the same period last year pan class="summaryFeed_highLightText__NxlGi">U.S. 2% d_highLightText__NxlGi">Russi 2017 sp U.S. roughly a $5 _highLightText__NxlGi" the European Brent pan class="summaryFeed_highLightText__NxlGi">U.S. the Middle East tText__NxlGi">the U.S. E Globally formation Administration3% an> 2% hLightText__ the year he first six mo Brian Mandell r 66 i">the first half of 2023 1% summ 2024 eed_highLightText__NxlGi">nearly 6.0 m 0.5% on barrels U U.S. /span>

VR Score

91

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97

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formal

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English

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45

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