The world will add 9million barrels per day of oil

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According to Dow Jones London on June 23, the International Energy Agency (IEA) pointed out in its latest mid-term outlook report on the energy market that the global crude oil distillation capacity will increase by 9million barrels per day from 2009 to 2015, rising to 99.8 million barrels per day, of which the largest increase will come from New refineries in China. IEA fully cleaned oil tank said that stimulated by the new capacity in Asia, the Middle East and Latin America, the global crude oil distillation capacity will increase by 1.5 million barrels per day per year from 2009 to 2015

iea warned that the global new refining capacity will exceed the new demand in the next few years. Before 2015, the global new oil demand was only 7.1 million barrels/day. The new unit may bring 4.8 million barrels/day of excess refining capacity. This will impact refineries in OECD countries with buzzing current sound (OECD). It is expected that 1.4 million barrels per day of refining capacity will be closed in the region by 2011

iea said that the expansion of oil refining capacity will put pressure on the unit operating rate of refineries. The average operating rate of global oil refining units has decreased from 84% in 2008 to 81% in 2009, and is expected to further drop to 78% in 2015. Each process takes less than 1 second

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