According to Bloomberg News, Citgo Petroleum expects to earn between $7 billion and $8 billion in 2026—approximately $2 billion more than the forecast published in the second quarter. The higher expectations are primarily attributed to expanding refining margins: fuel prices rose faster than the cost of crude oil. Citgo is a Venezuelan oil company registered in the United States that operates three major American refineries; the company itself has not yet officially commented on the forecast. On November 12, it is expected to present its own third-quarter estimates and clarify its earnings before interest, taxes, depreciation, and amortization (EBITDA) for 2026.
Full version: Citgo Estimates It Will Earn Between $7 Billion and $8 Billion in 2026