CVX · News · 20261102N

Refining Margin Trends

CHEVRON CORP · 2026-11-02 · Importance 48 · Surprise 24

A global diesel shortage supported unusually strong refining conditions, with attacks connected to conflicts in Iran and Ukraine reportedly taking as much as 10% of worldwide refining capacity offline. Chevron operated its U.S. refineries at 98% capacity and processed a record 1.09 million barrels of crude oil per day. The report links the record throughput and tight diesel supply to Chevron’s record quarterly refining profit.

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