Latin America is growth market for US refiners

by Sam Fletcher, Senior Writer Latin American refinery expansions planned this decade will not be enough to stem the region's growing dependence on imported US fuels, said analysts at Deutsche Bank AG (DB). Structural growth in US-Latin American trade for gasoline and gas oil will continue, with an increasing role for these exports in the US oil balance and US margins, they said. While oil markets have focused on expanding Asian demand—particularly China—Latin American demand growth is shaping not only the oil balance for the Americas but also global fundamental dynamics, said Soozhana Choi, head of Asia commodities research at DB. Latin America's oil demand growth averaged 3.8% during 20...

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