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 –
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
Mexican imports of petroleum products from China and South Korea doubled between 2018 and 2019, and though the United States remains by far its largest supplier, Asian refiners have gained market share in the Central American country. Last year, Mexico
Latin American deliveries of gasoline and related products to the United States have been absent for three weeks, though we did have another strong showing from India
Northwest European imports came in at 186,000 bpd, triple the level from the previous week. This is also twice of the volume of the five-year average over the same period.
Lower crude production, underinvestment and lack of refurbishments in the Mexican downstream sector has forced the country to increasingly become an importer of refined products. Despite having the capacity to refine some 1.6 million barrels per day, a spotty track
Before the Trump administration began its crackdown on Caracas, the United States was the largest supplier of refined products to Venezuela. With strict sanctions in place, Venezuela has now turned to the European market, and notably Russia, in order to
Uncertainty continues to surround the forthcoming IMO 2020 sulfur cap, even with a mere five and a half months to go before the January 1, 2020, start of the regulation. What will the makeup of marine fuel demand be after
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