The International Energy Agency has revised lower its global refinery throughput estimates for this year following Russia’s invasion of Ukraine , in its latest monthly report March 16. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The IEA said a 1.1 million b/d reduction in Russian refinery throughput “is not expected to be fully offset by increases elsewhere.” Hence the IEA expects global refinery intake to rise by 2.9 million b/d this year to 80.8 million b/d, or 860,000 b/d less than its previous estimate. As a result global runs “will not recover to pre-pandemic levels this year, and will be below 2017 levels,” the IEA said. Russian refineries are gradually reducing throughput as international buyers shun Russian exports while domestic demand is being impacted by the increased cost of borrowing, according to S&P Global Commodity Insights. A number of refineries, including Kuybishev, […]