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Inventories

6 Months Ended

Jun. 30, 2025

Inventory Disclosure [Abstract]

Inventories

Inventories

(Millions of dollars)			June 30, 2025						December 31, 2024
Crude oil and other feedstocks			$	3,548					$	3,185
Refined products			5,276						5,137
Materials and supplies			1,282						1,246
Total			$	10,106					$	9,568

Inventories are carried at the lower of cost or market value. Costs of crude oil and other feedstocks and refined products are aggregated on a consolidated basis for purposes of assessing whether the LIFO cost basis of these inventories may have to be written down to market values.

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- References

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/330/tableOfContent

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