Fuel markets, especially those of diesel and kerosene, may continue to be very tight amid uneven global demand growth rates and limits in the refining capacity, the International Energy Agency (IEA) said on Wednesday. After the maintenance season at refineries across the U.S., Europe, and Asia ends, refining activity is set for a solid recovery across the board as demand is robust with the summer travel season, the IEA said in its Oil Market Report for June. Refining capacity globally is also set to increase this year and next, but not fully offsetting the capacity that has been shut down since the start of the pandemic. Global refining capacity is expected to rise by 1 million barrels per day (bpd) in 2022 and another 1.6 million bpd in 2023, but product markets will remain tight amid uneven paces of recovery in various regions, the IEA said in its first […]