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Refiners set to turnaround in Q1 on rising oil prices, cracking margins
Refiners set to turnaround in Q1 on rising oil prices, cracking margins
IndustryMay 8, 2021
South Korea's oil refining industry is expected to rebound in the first quarter thanks to surging global oil prices and a recovery in refining margins after hemorrhaging from the pandemic-driven slump last year, analysts said Saturday. Four refiners -- SK Innovation Co., GS Caltex Corp., S-Oil Corp. and Hyundai Oil Bank Corp. -- registered their worst performances ever last year, stung by slumping crude prices, weak refining margins and tumbling demand due to the coronavirus pandemic. The