According to the Oil Market Forecast Report for Latin America released by S&P Global Platts Analytics, the demand for diesel in Brazil in the 3rd quarter of 2021 is likely to surpass the levels registered in the same period of 2019. Demand is expected to reach 1.1 million barrels per day, 15,000 barrels more than 2019. The report shows that some factors have influenced the increase in demand for diesel in the short term, such as the support from the agriculture and transport sectors, strong retail sales, and better economic performance. However, COVID-19 infections, political tensions and the ongoing drought could change estimates. S&P Global Platts Analytics also points out that demand for gasoline and ethanol in the third quarter of 2021 is expected to grow in Brazil, reaching 885,000 barrels per day, about 15,000 barrels per day more when compared to the same period in 2020. Despite the increase, demand should still be lower than that registered in the same period in 2019.
Sources: S&P Global Platts/Notícias Agrícolas (*Translated by Ia Niani)