Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

S-Oil sees strong Asia refining margins in Q4 on low stocks, heating demand

By Reuters News

SEOUL, Nov 2 (Reuters) - South Korea's S-Oil 010950.KS, a unit of Saudi Aramco 2223.SE, said on Monday that Asian refining margins in the fourth quarter are expected to be strong due to low global stocks of key products and heating demand.


Following are details of the company's earnings call:

  • The utilisation rate of its crude distillation unit (CDU) was 81% in the third quarter, versus 80% in the first half of 2026 and 96% in 2025, the company said in an earnings statement.

  • The CDU rate is forecast to rise in the fourth quarter through the sourcing of medium-grade Arab crude.

  • Refining margins are expected to stay strong even if the conflicts involving Russia or in the Middle East end, because repairs at damaged facilities will take a significant amount of time.

  • S-Oil is in talks with the South Korean government to seek compensation due to the government's cap on fuel prices.

  • A global shortage of lubricant is expected to continue in 2027, the company said.

  • S-Oil is relying on two routes in Saudi Arabia for shipping crude.

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.
The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.