By Ezequiel Minaya

Valero Energy Corp. posted quarterly results that beat Wall Street expectations as downtrodden energy markets show glimmers of a turnaround.

Over all, Valero Energy reported a profit of $367 million, or 81 cents a share, up from $298 million, or 62 cents a share, a year earlier. Excluding items, per-share earnings remained at 81 cents, down from $1.79. Revenue increased 10% to $20.71 billion.

Analysts expected adjusted per-share profit of 77 cents and revenue of $17.42 billion, according to Thomson Reuters.

Members of the Organization of the Petroleum Exporting Countries and other big producers said this month that they are abiding by their historic agreement last year to cut production. Oil prices have risen by about a fifth since that deal was struck.

--Georgi Kantchev contributed to this article.

Write to Ezequiel Minaya at Ezequiel.Minaya@wsj.com

(END) Dow Jones Newswires

January 31, 2017 08:27 ET (13:27 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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