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Inventories
 6 Months Ended
Jun. 30, 2024
Inventory Disclosure [Abstract]  
Inventories Inventories
(Millions of dollars)June 30,
2024		December 31,
2023
Crude oil $3,512 $3,211 
Refined products5,153 4,940 
Materials and supplies1,135 1,166 
Total$9,800 $9,317 
Inventories are carried at the lower of cost or market value. Costs of crude oil and refined products are aggregated on a consolidated basis for purposes of assessing whether the LIFO cost basis of these inventories may have to be written down to market values.