Mideast Oil Gets Tighter as Refineries in Oman, Bahrain Expand
- Oman’s Duqm, Bahrain’s Sitra plants to make diesel for export
- Refineries add more than 300,000 barrels of new daily capacity
The two refineries will further tighten supply of Middle Eastern crude, taking more than 300,000 barrels a day from export flows.
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Oil supplies from the Persian Gulf are set to tighten further as Oman and Bahrain expand refining capacity, consuming more regional crude to produce fuels like diesel for export.
The new Duqm refinery, a joint venture between Oman and Kuwait, has begun exporting the first cargoes of refined products, according to people familiar with the matter. Traders expect the 230,000 barrel-a-day facility to be running at full capacity by the start of next year.