EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads
Green Car Congress
JULY 21, 2022
The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. The refinery’s return is likely to decrease petroleum product prices and increase supply, particularly in south and southeast Asian markets.
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