• Murphy Oil average operating margin for 2023 was 36.82%, a 6.97% decline from 2022.
• Murphy Oil average operating margin for 2022 was 34.42%, a 216.72% increase from 2021.
• Murphy Oil average operating margin for 2021 was -29.49%, a 25.23% decline from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.