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Revenue
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The following table presents our revenues from external customers disaggregated by segment and product line:

Three Months Ended 
March 31,
(Millions of dollars)20262025
Refining & Marketing
Refined products$30,220 $27,427 
Crude oil1,650 1,565 
Services and other456 465 
Total revenues from external customers32,326 29,457 
Midstream
Refined products485 530 
Services and other817 911 
Total revenues from external customers1,302 1,441 
Renewable Diesel
Refined products567 615 
Services and other5 4 
Total revenues from external customers572 619 
Sales and other operating revenues$34,200 $31,517 
We do not disclose information on the future performance obligations for any contract with expected duration of one year or less at inception. As of March 31, 2026, we do not have future performance obligations that are material to future periods.
Contract Balances
Our receivables primarily consist of customer receivables. Significant, non-customer balances included in our receivables at March 31, 2026 and December 31, 2025 include matching buy/sell receivables of $6.0 billion and $4.1 billion, respectively.
Our contract liabilities primarily represent advances from our customers prior to product or service delivery. At March 31, 2026 and December 31, 2025, contract liabilities were $182 million and $215 million, respectively. Contract liabilities are included in other current liabilities and deferred credits and other liabilities on our consolidated balance sheets. We classify contract liabilities as current or long-term based on the timing of when we expect to recognize revenue.