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U.S. Refiners Increasingly Turning to Export Markets

“U.S. gasoline consumption has leveled off as the stimulus provided by low and falling oil prices between 2014 and 2016 has faded, so refiners are increasingly turning to diesel and customers in emerging markets,” Reuters  reports.

“In geographical terms, the fastest growth in consumption will come from outside the United States and the other advanced industrial economies. Developing economies accounted for most of the growth in oil consumption between 2004 and 2014 but were hit hard by the slump in commodity prices during 2015 and 2016.” 

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