Philips 66 CEO on Q2 results: Achieved lowest cost per barrel since 2021

Financial Performance - The company delivered $392 million in adjusted pre-tax income [2] - Refining utilization rates reached the highest level since 2018 [2] - The company achieved the lowest cost per barrel since 2021 [2] Operational Efficiency - The company maximized market capture [2] - Record yield in clean products was achieved in the first half of the year [2] - The company is putting more crude through refineries and obtaining cleaner, higher-value products [3]