Between 2020 and 2023, oil refineries with a combined net capacity of around 4.5 million barrels per day were closed across the world. Most closures occurred in the Asia-Pacific region. Due to lower refining margins, a number of oil producers such as Shell and BP were planning to downsize their refining operations, especially in Europe. These closures are expected to come into effect in 2025. For the period between 2024 and 2029, it is forecast that Europe will lose a refining capacity of some 0.4 million barrels per day.
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Net oil refinery closures worldwide between 2020 and 2023, with a forecast for 2024 to 2029, by region
(in million barrels per day)
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OPEC. (September 23, 2024). Net oil refinery closures worldwide between 2020 and 2023, with a forecast for 2024 to 2029, by region (in million barrels per day) [Graph]. In Statista. Retrieved July 19, 2025, from https://www.statista.com/statistics/1552985/global-oil-refinery-closures-by-region/
OPEC. "Net oil refinery closures worldwide between 2020 and 2023, with a forecast for 2024 to 2029, by region (in million barrels per day)." Chart. September 23, 2024. Statista. Accessed July 19, 2025. https://www.statista.com/statistics/1552985/global-oil-refinery-closures-by-region/
OPEC. (2024). Net oil refinery closures worldwide between 2020 and 2023, with a forecast for 2024 to 2029, by region (in million barrels per day). Statista. Statista Inc.. Accessed: July 19, 2025. https://www.statista.com/statistics/1552985/global-oil-refinery-closures-by-region/
OPEC. "Net Oil Refinery Closures Worldwide between 2020 and 2023, with a Forecast for 2024 to 2029, by Region (in Million Barrels per Day)." Statista, Statista Inc., 23 Sep 2024, https://www.statista.com/statistics/1552985/global-oil-refinery-closures-by-region/
OPEC, Net oil refinery closures worldwide between 2020 and 2023, with a forecast for 2024 to 2029, by region (in million barrels per day) Statista, https://www.statista.com/statistics/1552985/global-oil-refinery-closures-by-region/ (last visited July 19, 2025)
Net oil refinery closures worldwide between 2020 and 2023, with a forecast for 2024 to 2029, by region (in million barrels per day) [Graph], OPEC, September 23, 2024. [Online]. Available: https://www.statista.com/statistics/1552985/global-oil-refinery-closures-by-region/
