Monday, June 22, 2026
Marathon Petroleum Corp. Announces Agreement for $21 Billion Sale of Speedway - oil and gas 360

Marathon Petroleum cuts spending by $1.4 billion as virus saps fuel demand

Reuters U.S. oil refiner Marathon Petroleum Corp (MPC.N) on Tuesday cut spending by 30% and detailed other measures to reduce costs, as widespread lockdowns to curb the spread of the COVID-19 pandemic pummel demand for oil and gas. Stay-at-home orders to contain the pandemic have decimated travel, cutting worldwide demand for oil at a time when the market is already