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home / news releases / VLO - Brutal Market Conditions Torpedoed This Refining Stock's Second-Quarter Earnings

VLO - Brutal Market Conditions Torpedoed This Refining Stock's Second-Quarter Earnings

Valero Energy Corporation

Government shutdowns to help slow the spread of COVID-19 caused demand for refined petroleum products to fall off a cliff during the second quarter. Because of that, refiners like Phillips 66 (NYSE: PSX) had to reduce production to avoid filling the country's dwindling storage capacity to the brim. These headwinds had a significant impact on its financial results during the second quarter.

Metric

Q2 2020

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Stock Information
Company Name: Valero Energy Corporation
Stock Symbol: VLO
Market: NYSE
Website: valero.com
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