Marketplace®

Daily business news and economic stories

Low crude prices are finally squeezing refineries’ margins

A combining of two smaller refinery operators show consolidation is under way.

Low crude prices are finally squeezing refineries’ margins
JEAN-SEBASTIEN EVRARD/AFP/Getty Images

The oil industry has seen waves of consolidation in the two years since crude prices plunged: oil producers, pipeline companies, companies that service oil fields. But refineries held up for a long time. For them, low prices for oil — their raw material — meant higher profits. But now the changing economics of oil are changing the economics of refining. Tesoro announced it’s buying Western Refining for about $4 billion. 

Related Topics

Latest Episodes

View All Shows
  • Marketplace
    8 hours ago
    25:19
  • Make Me Smart
    14 hours ago
    19:00
  • Marketplace Morning Report
    17 hours ago
    6:55
  • Marketplace Tech
    21 hours ago
    8:33
  • This Is Uncomfortable
    3 days ago
    56:05
  • Million Bazillion
    24 days ago
    32:45