The International Energy Agency (IEA) has forecast growth in refinery runs globally of 1.3 million barrels per day (bpd) by 2019 compared with demand growth of one million bpd. But the IEA said that while it expected oil prices to remain low for a long time, they would not stay low.
The International Energy Agency (IEA) has forecast growth in refinery runs globally of 1.3 million barrels per day (bpd) by 2019 compared with demand growth of one million bpd. The new capacity will be driven by the opening of complex refineries in China, Saudi Arabia and Malaysia combined with the growth of existing operations in Turkey and Canada, the IEA said.