{
  "id": 5313316,
  "title": "Global Refining Crunch Could Keep Fuel Prices High Into 2027",
  "url": "https://urgent.news/2026/09/03/global-refining-crunch-could-keep-fuel-prices-high-into-2027",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-03T11:00:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Latest-Energy-News/World-News/Global-Refining-Crunch-Could-Keep-Fuel-Prices-High-Into-2027.html"
  },
  "original_language": "en",
  "account": "Global fuel prices are expected to remain high into 2027 due to a global refining crunch, according to industry experts. The Middle East conflict and Iranian and Houthi strikes on Persian Gulf facilities have significantly reduced supply and deliveries from the region. Furthermore, intensified strikes on Russian refineries have led to a ban on diesel exports out of Russia. This has caused a tightening of global fuel markets, as capacity elsewhere, including in the United States, is unable to offset the loss of refined product flows. Nikhil Agarwal, managing director of Globestar Energy, stated that with key refineries like Bapco, GTL Qatar, and Russian refineries out of commission, it will take years to build new capacity and bring it online. The International Energy Agency reports that refinery crude throughputs in July were 5 million barrels per day below year-ago levels in 80.9 million barrels per day. Phillips 66's Brian Mandell cited a shortage of 7 million barrels per day of refineries in Asia and the Middle East, plus an additional 1.4 million barrels in Russia, which will take a considerable amount of time to bring back online once repairs and spare parts are available.",
  "summary": "Damaged refineries in the Middle East and Russia and insufficient capacity elsewhere to offset the supply disruptions will likely keep global fuel prices elevated into the next year, analysts say. The Middle East conflict and the Iranian and Houthi strikes on Persian Gulf facilities have slashed supply and deliveries from the region, while intensified Ukrainian strikes on Russian refineries have…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}