Latin America's crude oil exports fall in August

Views: 0     Author: Site Editor     Publish Time: 2022-08-19      Origin: Site


Crude oil and condensate exports from Latin America (excluding hotspot countries) have so far in August compared to high levels in July, energy analysis firm Vortexa said in an analysis on Tuesday. Declined as domestic refineries, especially those in Brazil, are using more crude.In the first half of August, crude and condensate exports from Latin American oil producers fell sharply to 3.1 million bpd from 3.8 million bpd in July, wrote Rohit Rathod, senior oil market analyst at Vortexa.The production cuts so far this month have been largely driven by lower exports from Brazil. Brazil has been diverting more crude to refineries as refining margins remain strong. So far this month, Brazil's crude exports have slipped to 760,000 bpd from 1.2 million bpd the previous month, Rathod noted.

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