Update: Market Chatter: White House Looking to Expand US Oil Refining Capacity

02:11 PM EDT, 09/11/2026 (MT Newswires) -- (Updates with White House comment in the last paragraph.) The White House is mulling ways it can use the Defense Production Act to expand US oil refining capacity, Reuters reported Friday, citing two sources familiar with the plans. The suggestion to use the act occurred in a recent meeting between President Donald Trump and nearly a dozen US refiners, the report said. No final decisions were made, and participants expect conversations to continue, the report said. "America's refining capacity is essential to ensuring the United States has continuous access to secure, affordable, and reliable energy," White House spokeswoman Taylor Rogers said in an email to MT Newswires. "Expanding that capacity is a top priority for the President and his energy team, who are evaluating concrete options to increase our refining capacity through regulatory reform, faster permitting, and additional investment." (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.) Price: 165.11, Change: -0.12, Percent Change: -0.07