France's Finance Minister Roland Lescure revealed on Wednesday that between 30 and 40 per cent of Gulf refining capacity has been damaged or destroyed by Iran's retaliatory strikes following attacks by the United States and Israel, France 24 reports.
According to him, this has left a shortage of 11 million barrels a day on global oil markets. Lescure warned it could take up to three years to restore damaged facilities, and several months to restart those that were urgently shut down.
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