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Imperial Oil Refining Margins Fell in Q4

OIL

Imperial Oil’s refining margins fell in Q4 amid higher inventory levels and lower seasonal demand, according to reporting from Dow Jones.

  • Throughout 2023, strong gasoline and distillate demand combined with low inventories to keep margin strong, but short of 2022 level when looking at an annual basis, Imperial Oil said.
  • Imperial Oil said its Q4 upstream production averaged 452k boe/d, the highest quarterly production in over 30 years, according to Dow Jones.
  • Production across 2023 averaged 413k boe/d.

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