US Oil Companies Aim to Squeeze More Out of Refineries
5 Articles
5 Articles
The United States oil companies are intensifying their efforts to increase fuel production and maximize net operational energy, as global supplies decline, as a result of the aftermath of the war in the Middle East and the Russian-Ukrainian war.
US oil companies aim to squeeze more out of refineries as war supply crunch weighs
US oil companies are enhancing refinery capacities and reopening closed plants due to global supply disruptions. ExxonMobil and Chevron reported record profits, attributed to soaring commodity prices and refinery margins. Additionally, ongoing conflicts have severely impacted refining output, particularly in Russia and Iran. Analysts suggest that it may take until next year for supply chains to stabilize.
US oil companies aim to squeeze more out of refineries
ExxonMobil Chief Executive Darren Woods said Friday the company had achieved "record fuels utilization" outside of the Middle East, pointing to 100 percent crude utilization at US Gulf Coast refineries. The statements come as US gasoline prices remain above the politically sensitive $4 per gallon level and as diesel prices linger near all-time highs above $6 per gallon. "In the third quarter, we continued to rise to the challenge of meeting glob…
Coverage Details
Bias Distribution
- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
