Name: Where Fuel Demand Is 'Plateauing': Phillips 66 CEO
Uploaded: 2026-01-13T14:45:00Z
Duration: 1 min 4 s
Description: Mark Lashier, CEO of Phillips 66, spoke to Barron’s Andy Serwer about the oil company’s outlook for fuel demand. This interview was recorded on Dec. 16, 2025.

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Mark Lashier, CEO of Phillips 66, spoke to Barron’s Andy Serwer about the oil company’s outlook for fuel demand. This interview was recorded on Dec. 16, 2025.

https://m.wsj.net/video/20260113/aeecb10e-a2f6-4baa-b470-cd698ac4388e/1/hls/manifest-hd-wifi.m3u8

Where Fuel Demand Is 'Plateauing': Phillips 66 CEO

Let me ask you about demand for your end products, for fuel in particular, for instance, and how do you see that playing out next year and the years beyond that, and what factors are gonna be influencing that?

There's two different dimensions to that question. There's North America demand. We see North America demand plateauing, but, we see global demand for refined products continuing to tick up by one, 2% a year. And refining capacity is being rationalized globally, not just in the US, but elsewhere. And new builds aren't keeping up with the rationalization, so we continue to see a little more tightness every year in refining. And so that's constructive for our business. So demand's increasing, supply is stagnant to shrinking and so we're supplying the world based on very world-class assets, advantaged natural gas pricing, advantaged crude assets in North America, and that lets us play anywhere in the globe where we can find the most value for our products.