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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL PRODUCTS
LatAm seaborne diesel import demand has grown fairly significantly so far in 2024 to diverge from gasoline/blending component imports, according to Vortexa.
- Short term, healthy transportation fuel import demand is set continue due to refinery outages and a slow ramp up in gasoline production at new refineries. However, longer term suggests imports into LatAm are likely to slow down further with the Dos Bocas refinery startup.
- The drop in gasoline imports this year has been driven by Mexico were imports fell 7% y-o-y during Jan-Aug 2024 due to higher than average domestic refinery run rates.
- Brazil also reduced its gasoline imports by half on the year in Jan – Aug 2024.
- Diesel imports to Brazil rose 11% and Peru rose 17% y-o-y in Jan-Aug 2024 y-o-y due to Brazil’s refinery turnarounds during Q2 and Q3 2024. Mexico diesel imports however fell 10% in the same period.
- Non-North American flows into Brazil, Peru and Chile have remained at the top of the seasonal range for most of the year with 51% from Russia, 12% from Europe and 10% from Asia.
Source: Vortexa
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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