Global Oil Market Weekly Highlights

Phillips 66’s decision to close its Los Angeles Refinery by the end of 2025 marks a significant shift in the US state of California’s refining sector, a trend exacerbated by weak refining margins, rising compliance costs, and increasingly stringent environmental regulations

On Oct. 16, 2024, Phillips 66 revealed plans to close its Los Angeles-area refinery, P66-LA, by the end of 2025.