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Special reports - 02 June 2025

Wood Mackenzie's Global Refinery Closure Outlook to 2035

Although global oil demand is expected to grow, the long-term outlook for many refineries is uncertain. Wood Mackenzie’s latest global refinery closure threat analysis reviews 420 sites worldwide, identifying those most at risk by 2035. Rising carbon cost, shifting demands and lack of petrochemical integration are key factors shaping future viability.