Refining Capacity Crisis: 7-8M Barrels Per Day Offline
appec-conferenceGlobal energy market data shows a structural shift in price dynamics, with refining capacity now a key driver. Between 7 and 8 million barrels per day of global refining capacity are currently offline, creating supply rigidity that exacerbates price spikes. This issue is highlighted by the anomalous diesel crack spread, reaching record levels of $100 per barrel, signaling industrial and logistical capacity collapse.
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