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S-Oil expects refining margins to recover in Q3 as virus curbs ease

SEOUL, July 24 (Reuters) - South Korea’s S-Oil Corp said on Friday that refining margins are expected to continuously recover in the third quarter, supported by easing of coronavirus-related restrictions.

“Demand is recovering thanks to the easing of lockdowns and stimulus measures in major countries,” the country’s third-largest refiner, whose main shareholder is Saudi Aramco , said in an earnings statement. (Reporting by Heekyong Yang and Joyce Lee; Editing by Jacqueline Wong)

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