SEOUL, August 1 (Reuters) - SK Innovation Co Ltd (096770.KS) , opens new tab, owner of South Korea's top refiner SK Energy, said on Thursday it expects strong refining margins in the second half of this year as OPEC+ production cuts buoy oil prices and demand for transportation, cooling, and industrial use picks up as the peak oil demand season begins

The company posted an operating loss of 46 billion won ($33.6 million) for the April-June period, versus a 107 billion won loss a year earlier. That compared with an average analyst forecast of 295 billion won profit compiled by LSEG SmartEstimate.

Second-quarter revenue rose 0.4% to 18.8 trillion won, slightly lower than analyst estimates.

Shares in SK Innovation were trading up 1.7%, versus the benchmark KOSPI's (.KS11) , opens new tab 0.5% rise in early trade.

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https://www.reuters.com/markets/commodities/sk-innovation-expects-strong-refining-margins-h2-backed-by-higher-oil-prices-2024-08-01/