The 2023 data shows the United States held the largest share of global oil refining throughputs at 20.11%, followed by China at 13.68%, and Russia at 7.09%. India and Japan trailed with 6.12% and 4.07% respectively. Over the past two years, the US maintained a dominant position, but China’s growth has been notable, positioning itself as a significant player. India's expansion trajectory is also worth noting due to its evolving energy needs and investment in refining capacity.
Looking ahead, watch for:
- China's potential to further close the gap with the United States.
- India's continued investment in refining capabilities to support its growing demand.
- Geopolitical impacts on Russia and Iran's refining capacities.
- Environmental regulations increasingly influencing refining investments and shifts.
Top countries in Top Countries' Share of Global Oil Refining Throughputs
| # | 10 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 United States | 20.11 | 2016 | |
| 2 | 2 China | 13.68 | 2016 | |
| 3 | 3 Russia | 7.09 | 2016 | |
| 4 | 4 India | 6.12 | 2016 | |
| 5 | 5 Japan | 4.07 | 2016 | |
| 6 | 6 South Korea | 3.64 | 2016 | |
| 7 | 7 Saudi Arabia | 3.41 | 2016 | |
| 8 | 8 Iran | 2.35 | 2016 | |
| 9 | 9 Germany | 2.34 | 2016 | |
| 10 | 10 Brazil | 2.27 | 2016 |
