How Phillips 66 Balances Refining Upside With Midstream Stability

Key Takeaways PSX is positioned to benefit from lower oil prices, which can support margins in its refining operations.Phillips 66 is allocating an equal 2026 capital of $1.11B each to refining and midstream businesses.PSX's midstream assets provide stable, long-term cash flows that help offset commodity price swings.With West Texas Intermediate (WTI) oil prices currently hovering around $60 per barrel, according to data from Oilprice.com, which is significantly lower than a year ago, the overall energy bus ...