Sean Hill

Stories

Middle East conflict cuts global refinery runs, then a partial rebound

Principal contributor to the November 3, 2026 refinery brief

Refineries worldwide ran 4.8 million barrels a day less crude in the second quarter of 2026 than in the first, a 6% drop, after fighting in the Middle East closed the Strait of Hormuz in late February. By the third quarter, throughput had climbed back 1.8 million barrels a day.

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