KPLER data show Iran's refining capacity has fallen from about 2.45 mln b/d
pre-war to roughly 2.2 mln b/d, driven by damage to refinery facilities and
restrictions on napatha and fuel oil exports. Refiners have raised napatha
blending in gasoline and reallocated fuel oil supplies, but limited export
channels are constraining recovery; KPLER expects capacity to recover to about
2.3 mln b/d by Q4 and to rise further by Q1 2027.