{"id":1987518,"date":"2023-08-01T06:55:01","date_gmt":"2023-08-01T10:55:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/marathon-petroleum-q2-profit-slumps-63-on-lower-refining-margins\/"},"modified":"2023-08-01T06:57:04","modified_gmt":"2023-08-01T10:57:04","slug":"marathon-petroleum-q2-profit-slumps-63-on-lower-refining-margins","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/marathon-petroleum-q2-profit-slumps-63-on-lower-refining-margins\/","title":{"rendered":"Marathon Petroleum&#8217;s Q2 profit drops 63% due to reduced refining margins."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmarathon-petroleum-q2-profit-slumps-63-on-lower-refining-margins%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1987518&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>(Reuters) -U.S. refiner Marathon Petroleum Corp reported a 63% drop in second-quarter profit on Tuesday, \u200das improved fuel supplies and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/marathon-petroleum-q2-profit-slumps-63-on-lower-refining-margins\/\" title=\"Marathon Petroleum's Q2 profit drops 63% due to reduced refining margins.\">slowing economic activity compressed<\/a> its margins.<\/p>\n<p>Production cuts from OPEC+ weighed on\u2062 companies, as it removed heavy, sour barrels from the market that U.S. refiners buy cheaply to generate higher profit off fuel sales.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Marathon said crude capacity utilization was 93%, \u2064resulting in a total throughput of 2.9 million barrels per day (bpd) for the reported quarter.  \u200b   \u200d       <\/p>\n<p>The Findlay, Ohio-based refiner said <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mosaic-posts-higher-second-quarter-profits\/\" title=\"Mosaic posts higher second-quarter profits\">net income attributable<\/a> to company\u2063 stood at $2.2 billion, or\u2062 $5.32 \u200bper share, for the three months ended June 30, compared with $5.9 billion, or $10.95 per, a year earlier.<\/p>\n<p>  (Reporting by Arshreet Singh in Bengaluru; Editing by Krishna\u200b Chandra Eluri)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/marathon-petroleum-q2-profit\/attachment\/file-photo-a-marathon-petroleum-banner-outside-the-el-paso\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Robert Chambers is paroled after serving 15 of his 19 year\u2063 prison sentence.<\/strong> Chambers was arrested for dealing drugs out of his Manhattan apartment.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Devon Archer testifies on Hunter and Joe Biden\u2019s possible cozy business \u200cdealings.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>A <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/beverly-hills-late-term-abortion-clinic-rescinds-lease\/\" title=\"Beverly Hills abortion clinic cancels lease.\">late-term abortion clinic<\/a>\u200d was going to open its doors in Beverly Hills, California. However, after lots of pushback from pro-life advocates<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Major Scott A. Heusing rides his Harley Davidson across the country \u2063in a yearly effort to raise awareness\u2062 for Veteran Suicide.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By\u200d Diane Bartz WASHINGTON (Reuters)\u2063 \u2013 U.S. \u2062senators Elizabeth Warren, a\u200b Democrat, and Lindsey Graham, a \u2063Republican, said on \u2064Thursday they would\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Tom Bateman and \u200bRocky \u2064Swift TOKYO (Reuters) \u2013 As Japan enjoys a post-pandemic resurgence in tourism from around the globe, Seibu\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>(Reuters) \u2013 Dell Technologies on Monday\u2062 launched new generative artificial intelligence \u200c(GenAI) solutions in collaboration with Nvidia whose chips enable the \u200ctechnology\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>(Reuters) \u2013 Dell Technologies on Monday launched new generative artificial intelligence \u2064(GenAI) solutions in\u2064 collaboration with Nvidia whose chips \u2062enable\u200d the technology\u2026<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Marathon Petroleum Corp&#8217;s Q2 profit plummeted by 63% due to reduced margins caused by improved fuel supplies and a slowdown in economic activity. The production cuts by OPEC+ further impacted the company as it removed the cheaper heavy, sour barrels from the market, affecting the refiners&#8217; ability to generate higher profits from fuel sales.<\/p>\n","protected":false},"author":66,"featured_media":1987519,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1987518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1987518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1987518"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1987518\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1987519"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1987518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1987518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1987518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}