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OIL PRODUCTS: Brazil’s Diesel Demand is Set to Grow: Platts

OIL PRODUCTS
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Brazil’s full-year 2024 diesel consumption is set to slightly increase in Brazil, despite weaker expectations for agricultural production, which hit record levels in H1 2023, Platts said.

  • Monthly diesel retail sales hit a year-to-date high at 6.2 mcm in August, up 0.5% from July, but down year-on-year.
  • Total diesel demand is seen rising 2.5% in 2024. The demand outlook remains positive for gasoil, but imports will still be down 14% on the year.
  • That will be mainly due to the higher biodiesel blending mandate which was set to 14% in March. Stronger local refinery rates are also a factor.

 

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Brazil’s full-year 2024 diesel consumption is set to slightly increase in Brazil, despite weaker expectations for agricultural production, which hit record levels in H1 2023, Platts said.

  • Monthly diesel retail sales hit a year-to-date high at 6.2 mcm in August, up 0.5% from July, but down year-on-year.
  • Total diesel demand is seen rising 2.5% in 2024. The demand outlook remains positive for gasoil, but imports will still be down 14% on the year.
  • That will be mainly due to the higher biodiesel blending mandate which was set to 14% in March. Stronger local refinery rates are also a factor.

 

Keep reading...Show less