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Reuters (Reuters) – Valero Energy reported a fall in quarterly profit on Thursday as a slowdown in fuel demand hurt prices, kicking off earnings for U.S. refiners on a dour note. Weaker economic activity and an increase in global refining capacity last year pulled back refining profits from record heights touched in 2022, when disruptions to …
Valero Energy’s Quarterly Profit Falls on Lower Fuel Prices Read More »
Move comes after Sunoco sold convenience stores to 7-Eleven Deal would add crude oil transportation and storage for Sunoco Sunoco LP, a US gas station owner, agreed to acquire pipeline and fuel storage company NuStar Energy LP for about $7.3 billion in a move to diversify its business and buy up a key part of its supply …
Gas Station Owner Sunoco to Buy NuStar Energy for $7.3 Billion Read More »
By John Kemp (Reuters) – Global consumption of petroleum and other liquids hit a record high last year and is forecast to increase further in both 2024 and 2025, but that does not necessarily mean prices must rise to ensure demand is met. Worldwide consumption averaged 101.1 million barrels per day (b/d) in 2023, narrowly beating …
Oil Consumption and Prices Revert to Trend – John Kemp Read More »
