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Wood Mackenzie warns 20% of refineries face closure risk as demand peaks

Nov 5, 2026 05:32 (2h ago)

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Wood Mackenzie estimates that 20% of global refining capacity faces increasing closure risk.
Demand rises from 105 mb/d in 2025 to 108 mb/d in 2032 before declining.
India accounts for 40% of global refining-capacity additions through 2030.