Middle East oil refineries could ramp up output in 40-60 days from end of crisis, Vitol Bahrain says
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Middle East oil refineries could return to more normal production levels in 40-60 days from the end of the current oil supply crisis linked to the effective closure of the Strait of Hormuz, Reuters reports citing Vitol Bahrain’s regional head of research, Bader Nooruddin.
“That timeline would take production up to around 90-95 per cent of refinery production,” he says at the S&P Global Energy Middle East Petroleum and Gas Conference.
“Middle East Gulf refineries, including Oman, which sits to the south of Hormuz, have lost around 3 million barrels per day of oil refining capacity due to shut-ins,” Nooruddin adds.
