US gasoline exports over Q1 are indicative of both a tighter US balance early in the year as well as strong demand for US volumes from the rest of the Americas (see our latest AmericasWeekly publication).

  • March gasoline exports from the US have been almost exclusively Americas-bound for the second consecutive month, while exports to Africa have been at near-zero over the same time period
  • The combination of outright (albeit small) y-o-y declines in US gasoline exports in March, as well as the reduction in African volumes is symptomatic of solid demand in the US early in the year, as well as strong Latin American import on the back of significant crude intake declines.