v3.26.3
Fair Value Measurements - Roll Forward of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Unobservable Inputs (Details) - Level 3 - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period $ 3,960 $ 3,303 $ 3,185 $ 3,458
Increase (decrease) in unrealized gains included in Cost of products sold 773 (65) 599 (432)
Increase in unrealized losses included in Cost of products sold 0 0 0 0
Realized (decreases) increases included in Cost of products sold (764) (42) (2,025) (32)
Purchases 5,442 4,956 15,258 13,661
Sales (4,601) (4,499) (12,055) (12,945)
Settlements (274) (359) (800) (808)
Transfers into Level 3 406 457 1,480 1,725
Transfers out of Level 3 (1,004) (796) (1,704) (1,672)
Balance at end of period 3,938 2,955 3,938 2,955
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period 528 426 329 493
Increase (decrease) in unrealized gains included in Cost of products sold 0 0 0 0
Increase in unrealized losses included in Cost of products sold 406 169 1,268 628
Realized (decreases) increases included in Cost of products sold (2) (5) (6) (8)
Purchases 2 7 31 14
Sales (35) (28) (40) (83)
Settlements (335) (293) (959) (806)
Transfers into Level 3 38 8 85 62
Transfers out of Level 3 (75) (4) (181) (20)
Balance at end of period 527 280 527 280
Inventory-related Payables        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period 40 41 16 88
Increase (decrease) in unrealized gains included in Cost of products sold 0 0 0 0
Increase in unrealized losses included in Cost of products sold 3 7 6 11
Realized (decreases) increases included in Cost of products sold (2) (5) (6) (8)
Purchases 2 7 31 14
Sales (35) (28) (40) (83)
Settlements 0 0 0 0
Transfers into Level 3 0 0 1 0
Transfers out of Level 3 0 0 0 0
Balance at end of period 8 22 8 22
Commodity Derivative Contracts Losses        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period 488 385 313 405
Increase (decrease) in unrealized gains included in Cost of products sold 0 0 0 0
Increase in unrealized losses included in Cost of products sold 403 162 1,262 617
Realized (decreases) increases included in Cost of products sold 0 0 0 0
Purchases 0 0 0 0
Sales 0 0 0 0
Settlements (335) (293) (959) (806)
Transfers into Level 3 38 8 84 62
Transfers out of Level 3 (75) (4) (181) (20)
Balance at end of period 519 258 519 258
Inventories  Carried at  Market        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period 3,362 2,707 2,673 3,031
Increase (decrease) in unrealized gains included in Cost of products sold 376 (340) (411) (1,273)
Increase in unrealized losses included in Cost of products sold 0 0 0 0
Realized (decreases) increases included in Cost of products sold (764) (42) (2,025) (32)
Purchases 5,442 4,956 15,258 13,661
Sales (4,601) (4,499) (12,055) (12,945)
Settlements 0 0 0 0
Transfers into Level 3 383 415 1,432 1,534
Transfers out of Level 3 (762) (781) (1,436) (1,560)
Balance at end of period 3,436 2,416 3,436 2,416
Commodity Derivative Contracts Gains        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period 598 596 512 427
Increase (decrease) in unrealized gains included in Cost of products sold 397 275 1,010 841
Increase in unrealized losses included in Cost of products sold 0 0 0 0
Realized (decreases) increases included in Cost of products sold 0 0 0 0
Purchases 0 0 0 0
Sales 0 0 0 0
Settlements (274) (359) (800) (808)
Transfers into Level 3 23 42 48 191
Transfers out of Level 3 (242) (15) (268) (112)
Balance at end of period $ 502 $ 539 $ 502 $ 539