In 2023, the world's oil refinery capacity reached 103.5 million barrels per day. Overall, global refinery capacity has nearly doubled in the past fifty years and experienced the largest growth during the 1970s.
Production, demand, and refineries
Since the turn of the millennium, global refinery capacity has grown at a more consistent rate than oil production. However, refinery capacity has not been sufficient in keeping up with rising demand. Refineries in the United States have been particularly stretched by the drastic increase in extraction of shale oil over the past decade, which allowed the United States to become the leading producer of oil in the world.
Consumption expanding in Asia
While historically Europe, Eurasia, and North America have been the largest consumers of petroleum, regional distribution is shifting as consumption rises rapidly in Asia. China is currently the second-largest consumer of oil in the world, following the United States.
Refinery capacity for crude oil worldwide from 1970 to 2023
(in 1,000 barrels per day)
Characteristic
Refinery capacity in thousand barrels per day
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Energy Institute. (June 20, 2024). Refinery capacity for crude oil worldwide from 1970 to 2023 (in 1,000 barrels per day) [Graph]. In Statista. Retrieved July 27, 2024, from https://www.statista.com/statistics/264333/global-refinery-capacity-for-crude-oil/
Energy Institute. "Refinery capacity for crude oil worldwide from 1970 to 2023 (in 1,000 barrels per day)." Chart. June 20, 2024. Statista. Accessed July 27, 2024. https://www.statista.com/statistics/264333/global-refinery-capacity-for-crude-oil/
Energy Institute. (2024). Refinery capacity for crude oil worldwide from 1970 to 2023 (in 1,000 barrels per day). Statista. Statista Inc.. Accessed: July 27, 2024. https://www.statista.com/statistics/264333/global-refinery-capacity-for-crude-oil/
Energy Institute. "Refinery Capacity for Crude Oil Worldwide from 1970 to 2023 (in 1,000 Barrels per Day)." Statista, Statista Inc., 20 Jun 2024, https://www.statista.com/statistics/264333/global-refinery-capacity-for-crude-oil/
Energy Institute, Refinery capacity for crude oil worldwide from 1970 to 2023 (in 1,000 barrels per day) Statista, https://www.statista.com/statistics/264333/global-refinery-capacity-for-crude-oil/ (last visited July 27, 2024)
Refinery capacity for crude oil worldwide from 1970 to 2023 (in 1,000 barrels per day) [Graph], Energy Institute, June 20, 2024. [Online]. Available: https://www.statista.com/statistics/264333/global-refinery-capacity-for-crude-oil/