U.S. Refinery Use Hits May-to-September High Since 1998 Before Phillips 66 Q3 Report
Photo: TokenPost
Phillips 66 is due to publish third-quarter results Wednesday after U.S. refineries ran above 95% of capacity from May through September, their highest rate for those months since 1998. The company plans to release results earlier Wednesday, Oct. 28, ahead of a management webcast at noon ET. U.S. refineries averaged 95% utilization during the quarter and processed more crude than in any third quarter since 2019, when national refining capacity was 4% higher. Gasoline crack spreads averaged more than twice their year-earlier level during the quarter, although they fell in the second half.
Source: TokenPost
