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US : Oil & Gas Refinery - Independent Refiners | Refining Monthly Crack Check, Jan '21: Final Thoughts Ahead of 4Q20 Earnings Season

Tom Murphy

CFA, Sr. Res. Assoc. @ CGS-CIMB

Justin Jenkins

@ CGS-CIMB

26 January 2021

Published byCGS-CIMB

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Final thoughts ahead of 4Q20 earnings: Valero (VLO) kicks off refining earnings season on Thursday, with PSX to follow on Friday. Simply put, refining earnings won't be pretty, as 4Q results likely represent the worst of 2020. Thankfully, everyone knows this and relative positioning ahead of earnin

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