Phillips 66 Stock (PSX) Slides on December 17, 2025: What’s Driving the Drop, 2026 Capex Plans, and the Latest Analyst Forecasts
Phillips 66 shares fell 6.9% to $131.78 on December 17, 2025, following a broad energy sector decline as oil prices hit near five-year lows and U.S. unemployment rose to 4.6%. The company also announced a $2.4 billion capital budget for 2026, slightly above 2025 levels, with increased spending on midstream and refining projects.