Valero Cuts Refining –

Valero has cut refinery activity due to fog slowing their shipments of crude.  The plant processes 325,000 barrels a day and may have to halt production for a longer time period if shipment delays continue.  Crude oil has fallen to almost $35 dollars and some analysts have predicted an additional $10 dollar decline.  Sustained low prices are not likely once the production cuts from OPEC will start to have an effect.

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Jim Sutliff

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