How fuel exporters in India, US are benefitting amid oil supply disruptions
Oil refiners in India and the US are seeing increased profits due to global supply disruptions caused by the Russia-Ukraine war and Middle East tensions. These countries have stepped up exports to fill the gap left by traditional suppliers, maintaining high operating rates to meet global demand.
Why it matters
It illustrates how geopolitical instability creates economic windfalls for energy-exporting nations while highlighting the fragility of global fuel supply chains.
With global fuel supplies disrupted due to the Middle East crisis and Russia-Ukraine war, refiners in India and the US have emerged as beneficiaries. Oil refiners in the two countries are benefitting significantly as the conflicts have led to increased exports of refined fuel.Importers have been competing for available barrels during the peak summer driving season in the Northern Hemisphere.Worldwide refinery throughput declined to around 89 million barrels per day in July, according to International Energy Agency data, down by 5 million bpd from a year earlier.
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