NEW YORK, NY -- (Marketwire) -- 02/01/13 -- The Oil & Gas Refining & Marketing Industry experienced an impressive revival in 2012 as access to large supplies of North American crude have helped improved refiners profit margins. Bloomberg's S&P's Supercomposite Oil & Gas Refining & Marketing Index (S15OILR) has gained nearly 80 percent in the past year. Research Driven Investing examines investing opportunities in the Oil & Gas Refining & Marketing Industry and provides equity research on Marathon Petroleum Corp. (NYSE: MPC) and Phillips 66 (NYSE: PSX).
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The emergence of hydraulic fracturing has unlocked large reserves of oil that were previously inaccessible. Access to these reserves has made North American crude a viable option for refiners. As of last Friday, U.S. West Texas Intermediate at Cushing, Oklahoma was priced at roughly $96 a barrel, nearly $20 less a barrel than the international benchmark Brent crude.
The Energy Information Administration (EIA) earlier this month reported that oil production in the U.S. surpassed the 7 million barrels per day mark, which is the highest level in nearly 20 years. The EIA forecasts U.S. oil production will increase an additional 14 percent in 2013.
Research Driven Investing releases regular market updates on the Oil & Gas Refining & Marketing Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.RDInvesting.com and get exclusive access to our numerous stock reports and industry newsletters.
Marathon Petroleum is the nation's fifth-largest refiner, with a crude oil refining capacity of approximately 1.2 million barrels per calendar day in its six-refinery system. Shares of the company on Wednesday reached a new 52-week high of $73.40 after reporting strong fourth quarter results. Marathon reported fourth quarter earnings of $755 million, compared with a loss of $75 million in the year ago quarter.
Phillips 66's Refining and Marketing operations include 15 refineries with a net crude oil capacity of 2.2 million barrels per day, 10,000 owned or supplied branded marketing outlets, and 15,000 miles of pipeline systems. Shares of the company also reached a new 52-week of $62.91 after reporting earnings of $708 million in the fourth quarter.
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