Refining - Industry


Refiners convert raw crude oil into usable end products like gasoline and jet fuel.

  • Refiners buy crude oil and convert it into useable end products:
    • Gasoline
    • Kerosene
    • Jet Fuel
    • Plastics
  • The refining industry is very competitive and somewhat insensitive to the price of oil
    • The end products it produces are commodities that are interchangeable¬†
    • When the price of oil goes up or down, typically the prices for end products move in tandem