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Is a shortage of oil refineries pushing up global fuel prices? | Inside Story
Record global oil prices have been blamed on the war in Ukraine, and surging demand as economies recover from the pandemic. Another reason is a lack of refineries to turn crude oil into products such as petrol, diesel and jet fuel. Saudi Arabia’s foreign minister has called for more investment in refineries. Global refinery output has fallen by 3.3 million barrels a day since 2020….
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