Oil
Oil Refineries Become Prime Targets as Global Fuel Shortage Worsens
CEII brief
OilPrice.com reported on 29 Oct 2026: Oil Refineries Become Prime Targets as Global Fuel Shortage Worsens.
Read the full story on OilPrice.comTen years ago, European countries were closing refineries while Gulf oil states were building new ones. Now, many of these refineries have been damaged in the war between the U.S. and Israel, and Iran.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
68.0% of Iran’s merchandise exports were fuels in 2023Countries in this story
Original reporting © OilPrice.com. Headline and excerpt quoted with attribution; the full article is available on the publisher’s site. CEII’s context is the Centre’s own and does not represent the publisher.
