MPC News and Press, Marathon Petroleum Corporation From 05/19/22

The White House is planning a meeting between the crown prince of Saudi Arabia, Mohammed bin Salman, and President Biden. Biden had previously referred to the Prince as "the pariah" and said he has "no redeeming social value;" statements which likely led to Saudi declining an invitation to sp...

There is no physical oil shortage, only supply disruptions and market manipulation by OPEC+. Oil will see "panic pumping" coming to multiple nations soon, for fear of stranded assets, driving oil back to $60-80/b in the next year or two. Refining is a different story as there were...

Chinese diesel output rose 14% in April while diesel exports fell 81%; gasoline output fell 6% while exports fell 40%; in aggregate, oil product exports fell over ~50% year on year (XOM) (CVX) (VLO) (MPC) (PSX). The monthly customs data is volatile; however, year-to-date gasoline and diesel e...

Monday, Goldman laid out the bull case for refining, Tuesday morning JP Morgan forecasted "higher for longer" refining margins, Tuesday night Wells Fargo lifted refiner price targets, and Wednesday morning HSBC doubled refining margin assumptions for 2022 while lifting assumptions 30% for 202...

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JP Morgan's integrated oil and refining analyst Phil Gresh updated his refining forecasts Tuesday, citing a long list of bullish trends, while flagging recession risk. Phil sees current margins normalizing to nearer historic averages in 2023, but says a bad hurricane season could lead to "run...

Shares of Marathon Petroleum Corporation (NYSE:MPC) traded at a new 52-week high today of $98.29. So far today approximately 1.7 million shares have been exchanged, as compared to an average 30-day volume of 5 million shares. Marathon Petroleum is an independent refiner with 13 refinerie...

InvestorPlace - Stock Market News, Stock Advice & Trading Tips Rising interest rates provide a difficult setup for investors, but these three stocks have what it takes to battle this environment. General Motors ( GM ) — Has been a top performer in a rising rate environm...

Last Friday, when asked why fuel prices were high, the Saudi Energy Minister said, "the bottleneck is now to do with refining ... many refineries in the world, especially in Europe and the US, have closed." In a note Monday, Goldman's refining and Integrated analyst said "a unique set of circ...

Climate resolutions are struggling win support at this year's annual shareholder meetings of major oil companies, as investors decide that tight energy supplies and big company profits trump climate concerns. Major oil firms have easily defeated several climate resolutions brought by sharehol...