US Product Exports Drop, Pushed Aside by Russia

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  • US exports to Latin America fell in February amid higher flows from Russia to Brazil, according to the EIA.
  • The downstream processed over 90% North American feedstock.
  • Gasoline demand is showing green shoots.

US exports of refined products were under pressure in February, reflecting in part the impacts of new trade flows for Russian fuels. In its Petroleum Supply Monthly (PSM) the Energy Information Administration (EIA) pegged product exports in February at 5.7 million barrels per day, their lowest since October and down some 600,000 b/d from December.

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