US Oil Firms Push Refineries Harder Amid Supply Crunch
US oil companies are expanding refinery capacity and reopening closed plants because of global supply disruptions. ExxonMobil and Chevron reported record profits, which they linked to soaring commodity prices and strong refinery margins. Ongoing conflicts have also hit supply badly.
Context
Refineries turn crude oil into fuels like petrol and diesel, so their output shapes what consumers pay at the pump. Global oil prices rise when conflicts disrupt supply in major producing regions, and India, a large oil importer, tracks these trends closely.
Burning Potato score: 63%