XOM · News · 20261031N

Refining Capacity and Utilization

ExxonMobil Holdings Corp · 2026-10-31 · Importance 20 · Surprise 24

ExxonMobil identified its Baytown, Texas refinery among plants being targeted to increase petroleum-product supply. CEO Darren Woods said the company achieved record fuels utilization outside the Middle East, including 100% crude utilization at U.S. Gulf Coast refineries. The reported utilization push comes as U.S. gasoline prices remained above $4 per gallon and diesel prices near highs above $6 per gallon, while the company’s CEO expects global refining supply to remain tight for at least the next year.

Key facts

• ExxonMobil was expanding its U.S. Gulf Coast refining capacity and utilization, while global refining supply constraints were expected to persist. source
• ExxonMobil highlighted record utilization in its refining operations. source
• ExxonMobil said its refinery in Baytown, Texas, was one of the plants being targeted to boost petroleum-product supply. source
• ExxonMobil CEO Darren Woods said the company achieved record fuels utilization outside the Middle East, with 100 percent crude utilization at U.S. Gulf Coast refineries. source