The Mexican government is falling short on its promises for the energy sector once again. President Andres Manuel Lopez Obrador (AMLO) vowed to considerably increase refinery runs earlier this year, and despite a rebound in April, Mexican crude processing has tumbled to
The latest developments in international relations between Australia and China could result in a case of “what goes around comes around”, as Australia’s recent finger-wagging could return to haunt it. Australia hopped onto the world stage when it demanded an
Coronavirus was a distant concern for us in Latin America back in February. Higher infection rates in colder weather made the idea of COVID-19 even harder to grasp as a threat. Life continued as normal, and the pandemic felt a
The number of coronavirus cases in Latin America continues to rise, with more than 1.4 million people infected in Brazil and Mexico. The lockdowns and quarantines of recent months have weighed heavily on clean product demand in these countries –
Tension between the United States and China has ratcheted up in recent weeks amid increasingly hostile rhetoric. The global spread of the coronavirus has further hurt relations between Beijing and Washington, stoking the possibility of a new trade war amid
Unusual crude oil grades are making their way onto the global market as refiners slash runs amid cratering demand. Lockdowns and quarantines as a result of the coronavirus are freeing crude grades that are typically consumed in their domestic markets.
Lower demand for refined products, sparked by quarantine measures and limited onshore storage capacity are leading to a glut building offshore several Mexican ports. Some vessels are waiting for more than a week to offload. Based on information from Onexpo,
Brazil is maintaining both strong imports of gasoline and oil exports despite lower domestic demand and oil production cuts. Yet, exports of fuel oil have been hit by the global economic slowdown of recent months. Meanwhile, coronavirus cases in the
The economies of both Colombia and Ecuador face significant headwinds as oil prices remain depressed and the coronavirus spreads through the region. Colombian crude oil exports have rebounded so far this year, after averaging 582,000 barrels per day in 2019.
Brazilian crude exports to Europe are ticking higher so far this year as appetite for heavy grades stands strong following the new regulation on marine fuels, known as IMO 2020. Brazilian loadings bound for Europe have been kicking higher so
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