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Something seriously unusual is happening with oil refineries right now. You might have seen a headline or two, but I don't think it's turning nearly enough heads.
In the past three weeks, reports suggest that as many as 10 oil refineries and energy facilities have either blown up, caught fire, or gone offline - across four continents. Russia, Australia, India, Mexico, Texas, Romania.
Source: X
The Russian ones - fine, those are Ukrainian drone strikes. That's war. But the rest? Australia just lost one of its only two working refineries to a fire. India's brand-new $8.5 billion refinery caught fire the day before Prime Minister Modi was supposed to inaugurate it. Mexico's newest refinery has had four separate incidents in three weeks. And in Washington State, a BP refinery exploded, injuring three workers.
Nobody's calling it sabotage - officially. Equipment failures, gas leaks, "maintenance issues." Just a very, very remarkable coincidence.
Needless to say, I was curious. I went through each incident and pulled the numbers. I found seven confirmed refineries that either blew up, caught fire, or went offline in a three-week window. I might have missed some - but even with just these seven, the damage is pretty striking. Here's what I found:
That's roughly 1.7 million barrels per day of refining capacity either knocked offline or running at significantly reduced output.