Buffett Sold Exxon, Bought Refiner Phillips 66 on Oil Fears

Updated on
  • Felt oil's future "wasn't going to be as good" as some thought
  • Bought Phillips 66 due to CEO and pipeline, chemicals business

Buffett: I'm Less Enthusiastic About Crude Oil Prices

Billionaire Warren Buffett dumped Exxon Mobil Corp. shares held by Berkshire Hathaway Inc. and took a $4.5 billion stake in refiner Phillips 66 after souring on the outlook for oil prices, he said in television interviews.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.