Dr. Fereidun Fesharaki highlights the shifting dynamics in the global refining and energy markets, emphasizing the growth potential in Asia, particularly India, and the geopolitical factors influencing the oil market's stability. He says: "Up to a million barrels per day of Russian refineries are out of commission and this means that Russian exports of refined products have fallen quite dramatically and that has helped the margins. But the key issue is that nobody is building new refineries in the world today. "
