US Refiners Bank Record Crack Spreads, Turn Cash Back to Shareholders
Top American refining names are converting a favourable product-margin environment into accelerated buybacks and dividend increases, reinforcing the sector's shift from growth capex to capital returns.
Profits at leading US refiners have surged and companies are stepping up investor rewards, extending a multi-year capital-discipline narrative that has made the downstream complex one of the more reliable cash-return cohorts in energy.
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