Oil
One in five global refineries faces closure risk as oil demand peaks in 2032: WoodMac
CEII brief
ET EnergyWorld (India) reported on 5 Nov 2026: One in five global refineries faces closure risk as oil demand peaks in 2032: WoodMac.
Read the full story on ET EnergyWorld (India)About 20 per cent of existing refining capacity faces falling or negative operating cash margins, while India is expected to account for 40 per cent of global capacity additions through 2030
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.
13.1% of India’s merchandise exports were fuels in 2025Countries in this story
Original reporting © ET EnergyWorld (India). 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.
