Phillips 66 Becomes Top Venezuelan Crude Buyer Amid Trump Pressure on Rivals
Phillips 66 said on its earnings call that it has become the world’s third-largest buyer of Venezuelan crude, aided by fleet expansion and Jones Act waivers. The move comes as President Donald Trump pressures Exxon and Chevron over profits tied to the Iran war. Shares fell 1.7% to $202.39 but are up 57% year to date.