XOM · News · 20261031N

Global Refining Supply Constraints

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

ExxonMobil CEO Darren Woods expects global refining supply to remain tight for at least the next year. The report attributes the constraints primarily to ongoing international conflicts. ExxonMobil is seeking to expand U.S. Gulf Coast refining capacity and utilization, but the outlook points to continued constraints across the refining sector.

Key facts

• ExxonMobil CEO Darren Woods anticipated global refining supply would remain tight for at least the next year, primarily due to ongoing international conflicts. source