Refinery closures persist in war zones

Despite the war in the Middle East, European and American oil refineries continue to operate at full capacity to address fuel supply shortages. However, the overall trend indicates a decline in oil refining capacity in Europe by approximately 20% by 2035, due to rising maintenance costs, changing demand patterns, and increasing competition from Asian and African refineries. Old refineries remain at risk of closure, and governments in Europe and the U.S. are investing in energy security and fuel supply stability. Nonetheless, weaker future demand driven by the shift to electric vehicles continues to exert pressure on the refining industry. Meanwhile, the Middle East, China, and India are experiencing expansion in oil refining capacity, reflecting strategic goals and regional growth disparities. Some efforts are also underway in the U.S. to rebuild refining capacity through new projects, despite challenges related to costs and maintenance.

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