Free Trial

Global Refining Capacity To Peak This Decade

REFINING

Global refining capacity is likely to peak this decade according to Alan Gelder at Wood Mackenzie.

  • Net refinery capacity is expected to rise between 2023 and 2026 primarily driven by the Middle East and Sub-Saharan Africa and by Asia Pacific in 2026
  • Net refining capacity growth is seen as negative between 2028-2030.
  • Average global utilization rates are expected to stay strong with refining margins at healthy levels mainly driven by middle distillate crack spreads.

To read the full story

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.