The coronavirus pandemic will slow the pace of refinery expansions, but the market will still see significant overcapacity in the years ahead, OPEC said Oct. 8 in its latest long-term outlook. Receive daily email alerts, subscriber notes & personalize your experience. Register Now OPEC expects about 3.8 million b/d of new refining capacity to come online by 2022, it said in its World Oil Outlook. While that growth will slow down significantly after that, the market will not require that much capacity, OPEC said, with about 2.5 million b/d of refinery closures expected by 2025, mostly in Europe, the US and Canada. From 2025 to 2045, another 6 million b/d of refinery capacity will be shuttered […]