The pandemic may be receding in some parts of the world, but it is still ravaging Mexico and Brazil, presenting another challenge to U.S. refiners as the two countries are among their key export markets. Bloomberg reports that Gasoline consumption in Mexico slumped to the lowest in eight months in January this year, and diesel sales in Brazil dropped to the lowest since May last year. Normally, Mexico accounts for two-thirds of U.S. gasoline exports, but with consumption dropping amid the pandemic, this is going to change. Demand for U.S. fuels in Latin America is also under threat because of the pandemic’s development in the largest country in the region. Brazil’s daily death toll from the coronavirus broke yet another record, bringing the total to over 250,000, and a new variant of the virus that emerged there last year is proving a lot more contagious, including for people who […]