# Valero sees favorable refining margins for 2021 as it hikes renewable diesel output | S&P Global

> Valero expects favorable refining margins for the rest of 2021 and plans to roughly quadruple renewable diesel output over the next few years. The company reports US gasoline and diesel demand above 2019 levels and product exports at their highest since 2018.

- Date: 2021-07-29 · published 2021-07-29T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/46038-valero-sees-favorable-refining-margins-for-2021-as-it-hikes-renewable-diesel
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expanding renewable diesel capacity increases demand for soybean oil and other vegetable oil feedstocks, supporting soy oil prices and reducing meal-to-oil balance for crushers.

## Read by commodity

- SBO: bullish ▲
- WTI: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2021-06-10 | [In the eye of the storm: How the oilseeds market emerged as the global driver of agriculture markets, its role in wider food price inflation - Fastmarkets](https://feedsoft.ai/events/46619-in-the-eye-of-the-storm-how-the-oilseeds-market-emerged-as-the-global-driver-of.md) | -10.5% | -12.7% |
| SBO | 2016-12-02 | [Farming News - Oilseed Market Report: Rise in sterling bodes ill for exporters](https://feedsoft.ai/events/73557-farming-news-oilseed-market-report-rise-in-sterling-bodes-ill-for-exporters.md) | -1.6% | -8.6% |
| SBO | 2016-12-14 | [Vegetable oil prices follow petroleum prices higher after OPEC refuses to boost production  : The Daily Digest](https://feedsoft.ai/events/73554-vegetable-oil-prices-follow-petroleum-prices-higher-after-opec-refuses-to-boost.md) | -1.4% | -2.0% |
| SBO | 2022-07-15 | [Runaway price hikes has soy farmers hoarding all they can \| Buenos Aires Times](https://feedsoft.ai/events/14022-runaway-price-hikes-has-soy-farmers-hoarding-all-they-can-buenos-aires-times.md) | -1.2% | +6.7% |
| SBO | 2025-02-24 | [Oilseed crush industry sees unprecedented growth, reshaping grain and feed industries \| Feed & Grain](https://feedsoft.ai/events/26171-oilseed-crush-industry-sees-unprecedented-growth-reshaping-grain-and-feed.md) | -2.0% | -5.8% |
| WTI | 2020-01-30 | [Marathon CEO predicts ‘stair-step’ of diesel margins in response to IMO 2020 - FreightWaves](https://feedsoft.ai/events/55258-marathon-ceo-predicts-stair-step-of-diesel-margins-in-response-to-imo-2020.md) | -4.6% | -11.6% |
| WTI | 2022-06-14 | [Diesel prices: The loss of US refining capacity is making things worse - FreightWaves](https://feedsoft.ai/events/41119-diesel-prices-the-loss-of-us-refining-capacity-is-making-things-worse.md) | -8.6% | -19.2% |
| WTI | 2020-07-29 | [Expert Commentary - Update on Global Gas and LNG Prices in 2020: How has it Coped with Recent Market Dynamics? - Events-HH](https://feedsoft.ai/events/52290-expert-commentary-update-on-global-gas-and-lng-prices-in-2020-how-has-it-coped.md) | +1.8% | +5.6% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/crude-oil/072921-valero-sees-favorable-refining-margins-for-2021-as-it-hikes-renewable-diesel-output

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.