Refining Industry (Noun)
Meaning
An industry that produces and delivers oil and oil products.
Classification
Nouns denoting groupings of people or objects.
Examples
- The refining industry processes crude oil into useful products such as gasoline and diesel fuel.
- Growth in global energy demand has led to an expansion of the refining industry worldwide.
- The refining industry is a significant source of air and water pollution due to the large amounts of waste it generates.
- Technological advancements in the refining industry have increased efficiency and reduced costs over the years.
- Investments in the refining industry can provide a hedge against inflation and market volatility.