Slow market impacts refining capacity expansion with reduction of 3 million barrels per day by 2020, says GlobalData

Global crude distillation unit (CDU) capacity will grow by 16.7% by 2020 based on planned and announced refineries, according to research and consulting firm GlobalData. Current capacity is 98.9 million barrels per day (mmbd), with planned projects bringing this to 115.2 mmbd. This is down from GlobalData’s previous outlook of 118.2 mmbd, from February 2016. ….