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Inventories | 3 Months Ended
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Mar. 31, 2026
Inventory Disclosure [Abstract] |
Inventories | Inventories
(Millions of dollars) | March 31, 2026 |  | December 31, 2025
Crude oil and other feedstocks | $ | 3,360 |  |  | $ | 3,272 |
Refined products | 6,035 |  |  | 5,350 |
Materials and supplies | 1,369 |  |  | 1,507 |
Total | $ | 10,764 |  |  | $ | 10,129 |
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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- 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 + Details
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