U.S. Oil Refiners Are More Profitable Than Before The Pandemic ...Middle East

The top U.S. refiners have posted record quarterly profits this year amid high refining margins and reduced operational capacity in America, more than recovering the hefty losses from 2020, when the pandemic hit fuel demand. The biggest refiners, Marathon Petroleum, Valero, and Phillips 66, have raked in more cash flows this year than in 2019, an analysis of financial reports by Reuters shows.   Their share prices have also jumped this year, with Valero up by 42% so far in 2022, Marathon Petroleum up 45%, and Phillips 66 rising by 25% year…

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