More refineries 'spread across the globe' needed to avoid disruptions during wars, says expert

Energy expert and analyst Osama Rizvi believes high fuel prices have become a “structural feature” of the market, warning that it could take months for supplies to recover and prices to fall. ADVERTISEMENT ADVERTISEMENT The European Commission is treating the loss of refining capacity as a vulnerability that Europe can no longer afford to ignore. Energy Commissioner Dan Jørgensen warned that the prolonged war in the Middle East should serve as a "wake-up call". The EU should ensure that there is an adequate refining capacity at home, he said. Rizvi thinks the world needs a "refinery revolution" and have more refineries spread "across the globe" so they don't become "vulnerable" during geopolitical crisis.