Europe Rethinks Oil Refinery Phase-Down Amid Global Energy Crisis

Europe, a leader in clean energy, is now re-evaluating its ambitious oil refinery phase-down plans as a global energy crisis forces a reckoning with its decision to ditch fossil fuel assets. This potential shift in policy could signal a sustained demand for crude oil in the region, contrary to previous projections. Such a development could contribute to upward pressure on international crude oil prices, which in turn might influence global inflation expectations, potentially supporting gold as a hedge and impacting Pakistan's import-dependent economy and the USD/PKR exchange rate.

بحوالہ / Source: oilprice.com