BLACK GOLD

Arabian Business English - - UPFRONT -

Global re­fin­ing ca­pac­ity ad­di­tions to 2023 are fore­cast to amount 7.7 mil­lion bpd. At the same time, the rate of growth of re­fined prod­uct de­mand is slow­ing to 5 mil­lion bpd. The Mid­dle East sees the big­gest growth in ca­pac­ity and na­tional com­pa­nies in the re­gion are ven­tur­ing into in­ter­na­tional mar­kets, tar­get­ing joint ven­tures, par­tic­u­larly in Asia.

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