U.S. REFINING MARGINS FIRM IN 1993

Refining margins in the U.S. will come under increasing pressure in the second half but still remain stronger than in 1992, contends Wright Killen & Co. U.S. refining margins in first half 1993 sustained a recovery that began in third quarter 1992, the Houston consultant said. U.S. refinery operating rates climbed by more than 2.2% in the first 6 months of the year as a result of increased product demand growth and decreased refining capacity as the shutdown of refineries accelerated.

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