Watching Government: IEA's global refining outlook

Most of the interest so far in the International Energy Agency's medium-term global energy outlook has been on its suggestion that the US could surpass Saudi Arabia as the world's leading crude oil producer by 2017. But IEA's forecast also includes refining predictions that could be significant too. These emerged during a presentation Nov. 19 by Antoine Halff, who heads IEA's Oil Industry and Markets Division, at the Center for Strategic and International Studies. Halff said growth in global refining capacity could run ahead of demand, dominated by China and India, which commissioned significant expansion projects during 2011's second half and 2012. "There's a strong likelihood that ...

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