This year’s oil glut is already receding. It is a shame that can’t be said of the global glut of oil refineries, which is only getting worse.
Europe in particular has long had too many oil refineries, but the pandemic-induced fall in energy demand has ramped up pressure to resolve the problem. For the region’s big oil producers—already reeling after a flood of excess oil pushed some prices below zero in April—a few aging assets likely in line for a makeover. Others could be destined for the scrap heap.
Don't believe it yet. The prices realized today are nothing like two years from now when just one refinery fire will send them even higher.
European countries must add agricultural and farming in their primary school syllabus bcz soon they will be no longer needed to d world. Ryt now they are little bit relevant bcz of their leftover finances which they grabbed from Asian/Africans in last 3 centuries.
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