The world’s refining capacity is expected to increase by nearly 3 million barrels per day (bpd) by the end of next year when at least nine refinery projects are expected to start up in the Middle East and Asia, the EIA said on Tuesday. The expansion of refinery capacity would offset the losses in global refining capacity in 2020 and 2021 when several refineries around the world—including 1 million bpd capacity in the United States—were either permanently closed or slated to be converted to produce biofuels.
Tight refining capacity,…Global Refining Capacity To Expand With New Projects In Middle East, Asia
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