Refining Overview
Over the last six months of fiscal 2017, changes in the oil & gas market led to increasing refinery revenues and the expansion of margins. Earnings in the refining industry increased in fiscal 2017 as refined product prices increased, the crack spread widened, and volumes sold increased as demand rose. With recent gains in the industry and the effect of the Tax Cuts and Jobs Act of 2017, refiners should sail steadily through 2018. However, the future impact of many regulations surrounding the oil & gas industry is still uncertain.
The data presented in this newsletter includes the most recently available information as of February 28, 2018. This includes public company earnings metrics as of December 31, 2017 and information from the EIA as was available.
