April 25, 2018 / 12:50 AM / a month ago

S.Korea's S-Oil expects healthy refining margins in Q2

SEOUL, April 25 (Reuters) - S-Oil Corp, South Korea’s third-biggest oil refiner, on Wednesday said that strong demand growth in the region would support refining margins in the second quarter of this year.

“Refining margins will be held up at a healthy level given 0.6-0.8 million barrels per day of strong year-on-year demand growth in the region and spring maintenance,” the refiner said in an earnings statement.

“In the longer term, market fundamentals will be continuously supportive given that capacity additions are lagging behind demand growth,” it added.

Reporting by Jane Chung Editing by Joseph Radford

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