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Libyan oil output is also down by over 500,000 barrels per day due to pipeline maintenance and oilfield shutdowns. The supply disruptions came as OPEC+ kept its existing policy of modest monthly output increases, citing a mild and short-lived impact on fuel demand from the omicron variant.
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Crude oil is also used in cosmetics and medicines. Because the supply of crude oil is limited but demand is constantly increasing, the price of oil is also continuously rising. Because crude oil is needed to manufacture other primary materials, it is the world's most important commodity.
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Refinery - Wikipedia
A refinery is a production facility composed of a group of chemical engineering unit processes and unit operations refining certain materials or converting raw material into products of value. Different types of refineries are as follows: petroleum oil refinery