By Reuters Staff
1 Min Read
FILE PHOTO: General view of the Marathon petroleum refinery in Carson, California, U.S., December 5, 2019. REUTERS/Mike Blake/File Photo
(Reuters) - U.S. refiner Marathon Petroleum Corp’s losses narrowed in the fourth quarter from the third, helped by a slight recovery in fuel demand on the back of easing COVID-19 restrictions and lower costs.
Demand for fuel has ticked up in recent months as more people traveled with many states and countries rolling back COVID-19 restrictions.
Like its rivals Valero and Phillips 66, Marathon Petroleum on Tuesday pinned economic recovery hopes on COVID-19 vaccine rollouts.