Analysis-US refiners unlikely to spend big to process more domestic oil [Yahoo! Finance Canada]
Phillips 66 (PSX)
Last phillips 66 earnings: 5/1 07:00 am
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Source: Yahoo! Finance Canada
Trump's pledge to unleash U.S. energy production and lower prices for consumers has focused on increasing domestic oil drilling. At the same time, his tariff threats have cut imports of crude from Canada and Mexico, which account for around a quarter of the oil U.S. refiners process, even though in the end he decided to exempt energy imports. Uncertainty over future trade policy may make processing more domestic crude more attractive to U.S. refiners, but the switch is not simple. The U.S. produces mainly light shale crude, which ideally requires a different configuration at refineries than denser, heavier Canadian and Mexican crude. More than 70% of U.S. processing capacity is configured to run heavier grades, and changing the setup can be a lengthy, expensive process. Reuters spoke to ten industry sources, including refinery staff, executives and analysts, for this story, and all but one agreed that refineries were unlikely to make these large investments. The one refinery
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- Phillips 66 Sets $2.4 Billion Capital Budget for 2026 [Yahoo! Finance]Yahoo! Finance
- Phillips 66 announces 2026 capital budget [Yahoo! Finance]Yahoo! Finance
- Phillips 66 announces 2026 capital budgetBusiness Wire
- Investors in Phillips 66 (NYSE:PSX) have seen stellar returns of 157% over the past five years [Yahoo! Finance]Yahoo! Finance
- Phillips 66 (NYSE:PSX) had its price target raised by analysts at Mizuho from $145.00 to $150.00. They now have a "neutral" rating on the stock.MarketBeat
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- 10/29/25 - Beat
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