Reasons Why PSX's Midstream Portfolio Offsets Elevated Crude Prices

Key Takeaways Phillips 66 is poised to benefit as the EIA forecasts WTI falling to $49.34 per barrel by 2027.PSX has been expanding its midstream operation to secure stable, fee-based revenues from leased assets.Phillips 66 advanced Pinnacle, Coastal Bend and Dos Picos 2, with more growth projects due by 2027.Phillips 66 (PSX) is poised to benefit from the ongoing softness in crude oil prices on its business model, which enables it to purchase raw materials at a cheaper rate. According to data released by t ...