Record volumes of refining capacity have been shut down over the past two years, which will lead to tight global fuel markets that will last at least through the middle of this decade. According to a new report by the International Energy Forum (IEF) and S&P Global, we can expect high volatility in fuel markets and fuel prices.
Between 2020 and the middle of 2022, as much as 3.8 million barrels per day (bpd) of gross atmospheric crude distillation capacity closed - a record high number, the report found. Lower crude distillation capacity and…The Global Fuel Market Will Remain Tight For Years To Come
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