Despite High Demand and Low Supply, Many Oil Refiners Have No Plans To Expand Operations

Demand for oil, gas and petroleum products has quickly rebounded as the world recovers from COVID-19. Meanwhile, supplies have been crippled due to Russia’s ongoing invasion of Ukraine. Despite this, many U.S. oil refiners have no plans to expand operations, according to Marketplace. 

“Investors do not want to see companies pouring money into organic oil and gas growth,” said Hugh Daigle, professor petroleum engineering at the University of Texas at Austin.

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