Refiners struggle to keep up in Latin America
Imports are on the rise across the region as refiners struggle to keep up with demand
The global trade in refined oil products has taken a curious turn in recent months. The world’s two largest crude importers, China and the US, have ramped up exports of gasoline, diesel and other refined products. US refiners are processing more domestic crude than they have in years at the same time demand has fallen. China’s refiners are looking for better margins beyond the tightly controlled domestic market. It raises the question: if the US and China are selling, who is buying? Increasingly the answer is Latin America and the Caribbean, which has emerged as an important refined products market, particularly for US Gulf Coast refin
Also in this section
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
