Economy & Finance
Aug 04, 2026
Iran War Triggers Oil Refining Golden Era: Big Oil Windfall Won't Last
Iran war triggers oil refining golden era. BP margin $30/bbl (from $17). Exxon downstream $5.5B. Shell 102% utilisation. 5M bpd refining capacity lost. IEA: 78M bpd global runs, lowest since COVID. Won't last — structural decline.