SEATTLE (Oil Monster): Global oil refining activity witnessed a steep contraction in the second quarter of 2026 before staging a partial recovery in the following quarter, as Middle East conflict disrupted crude supplies and altered international trade flows, according to the U.S. Energy Information Administration (EIA).
According to Kpler data, worldwide refinery crude oil inputs declined by 4.8 million barrels per day (bpd), or 6%, in 2Q26. Throughput subsequently recovered by 1.8 million bpd in 3Q26, supported by improved crude availability and increased adoption of alternative supply routes.
China recorded the steepest decline, with refinery inputs dropping 2.1 million bpd in 2Q26 and another 0.8 million bpd in 3Q26. India, Japan and South Korea collectively experienced a reduction exceeding 1 million bpd before recovering 0.8 million bpd in the third quarter. Refineries in Kuwait, the UAE, Saudi Arabia and Iran also reduced operations. Combined throughput in these countries subsequently increased by 0.4 million bpd.
Russian refining faced additional pressure from attacks on oil infrastructure, with inputs falling 0.6 million bpd in 2Q26 and another 0.8 million bpd in 3Q26.
On the other hand, the United States increased refinery inputs by 0.5 million bpd in each quarter.
Despite the recovery, global refinery inputs remained approximately 5% below year-earlier levels in 3Q26. This suggests that geopolitical disruptions continue to have a major impact on energy markets.
YOU MAY ALSO BE INTERESTED IN:
Oil Ends Flat as Russia Talks Offset Hormuz Risk
UBS Raises Year-End Brent Forecast to $110
