Important rebound of oil products output in the US.
Production of refined oil products increased by 4.5% in 2021, after a 9.3% fall in 2020.
The United States remained the world’s largest refiner in 2021, with a global market share of 20%, followed by China (17%) and Russia (7%). The growth in refined oil products production was driven by the Middle East (+8.1%, including +12.2% in Saudi Arabia), with a substantial growth in refining capacity, and North America (+5.9%). Output in Asia grew as fast as the world’s average (+4.5%), led by India (+8.9%) and Japan (+6.4%). The expansion was less rapid in Europe (+2.8%, including -2.8% in Germany), which has seen major shutdowns of refineries in recent years, and in CIS (+4%; Russia: +3.9%).
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