Repsol submitted a provisional preview of its operational data for the third quarter of the fiscal year (3Q2026) to the CNMV, showing solid financial strengthening driven by margin optimization and an operational rebound. Estimated production reached 574,000 barrels of oil equivalent per day (boe/d), recording a 2.9% quarter-on-quarter and 4.2% year-on-year increase, driven strongly by the North American business (+6.8%).
The most decisive variable for the profitability of its downstream division was the refining margin in Spain, which reached an all-time high of $36.2 per barrel; this represents a 158.6% increase compared to the previous quarter and more than quadruples the $8.8 recorded in the same period of 2025. All of this occurred against a macroeconomic backdrop marked by tight supply and high prices for benchmark crudes, with Brent averaging $97.0 per barrel (+40.4% year-on-year).
