“Shortage Due to Middle East war”... Lubricants Become the ‘Top Contributor’ to the Oil Refining Industry’s Performance

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The base oil lubricant businesses of Korea's four major oil refiners drove strong performance in the second quarter of this year, outperforming their refining businesses, which include gasoline and diesel. This effect stems from supply shortages caused by the destruction of lubricant production facilities in the Middle East due to the war between the U.S. and Iran. According to a comprehensive analysis of the earnings announcements from the four…