Refiners Profit from Oversupply of Crude Oil

The collapse of crude oil prices has created massive layoffs in the exploration and production sector of the industry, but the refining and marketing sector is having a record-breaking, great year.

Morgan Stanley reports that the leading independent refineries “reported strong beats.” It noted that Valero raised its dividend, and Tesoro and Phillips 66 raised buybacks.

“Refuting fears of wea...

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Oilman Jan-Feb 2018

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