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One in five refineries at closure risk as global oil demand peaks in 2032, Wood Mackenzie says

Grade Abearish AI signal$WTI$BRENT
Wood Mackenzie warns that 20% of the world's refineries face closure risk as global oil demand is projected to peak at 108 million barrels per day in 2032 before entering structural decline. The report highlights falling or negative operating cash margins and shrinking investment windows as refineries face mounting pressure to adapt. Long-term demand uncertainty could pressure refinery profitability and weigh on investment in refining capacity, while near-term geopolitical risks continue to influence crude prices.

Bullish strength: 35/100

  • Global refined product demand is still expected to grow from 105M to 108M barrels per day by 2032.
  • Crude futures rebounded more than $2 per barrel on Thursday.

Bearish strength: 65/100

  • An estimated 20% of global refineries face closure risk.
  • Global oil demand is projected to peak in 2032 and structurally decline afterward.
  • Falling or negative operating net cash margins threaten refinery profitability.
  • Lower returns on capital could make refinery upgrades and adaptation harder to finance.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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