Global refining capacity is becoming a key factor in fuel market security

Global refining capacity is emerging as an important factor in fuel-market security, with a relatively small group of countries accounting for a significant share of the world’s ability to process crude oil into finished petroleum products. China accounts for 18.1 per cent of global refining capacity, followed by the United States at 17.5 per cent and Russia at 6.5 per cent, according to the data in the supplied graphic. Together, the three countries account for 42.1 per cent of global refining capacity. Advertisement Refining capacity determines how much crude can be processed into products such as diesel, gasoline and jet…