Kuwat’s Al Zour refinery under construction in 2020
Middle East takes control of oil supply chain
The region, known for its crude output, has gone from product importer to exporter, easing supply worries in Europe and creating a supply glut in Asia and elsewhere
The Middle Eastern refining sector has undergone a significant transformation in recent years, with a notable impact not only on refined product output in the region and elsewhere but also on the quality of crude oil supply available globally. The Middle East's growing role in global refining has helped Europe mitigate the impact of the West's ban on Russian oil imports. However, the region's increasing supply of refined products is exerting downward pressure on diesel cracks now, particularly in Asia but also in other markets worldwide. The Middle East was a refined product importer only a few decades ago, despite being the largest exporter of crude oil. This has changed in recent years. Th
Also in this section
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
