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المشهد العربي
Rising defense needs boost European refining
The European oil refining sector is suffering from a longstanding structural crisis, but it is currently benefiting from a sharp increase in military demand resulting from increased defense spending by EU member states. In 2025, defense expenditures rose by 75% compared to 2021, reaching €418 billion, with expectations of further increases during the current year. This has led to a shift in government policies from reducing refinery capacities to bolstering fuel supplies to ensure stability, with the goal of supporting strategic competitiveness in areas such as artificial intelligence.
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