US refiners face big stress test as global crisis looms
U.S. refineries have been operating at near maximum capacity for an extended period, driven by the Iran war, to capture increased profits. However, this approach could lead to severe consequences. Many U.S. refineries have postponed routine maintenance to maximize output, increasing the risk of equipment failures. This situation has global implications, as the U.S. plays a crucial role in the global fuel market.
The past six months have been a record-breaking period for U.S. refiners, with average margins exceeding $50 per barrel since the war began. Major refiners like Valero, Phillips 66, Marathon Petroleum, and Exxon Mobil reported record or near-record earnings. However, the question remains: how long can this high-performance state last before something breaks?
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
