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EPE publishes February 2024 Brazil’s Short-Term Fuel Market Outlook

​Brazilian liquid fuel demand will grow in 2024. EPE forecasts an increment of 0.8%, or 1.2 billion liters, for 2024, after three consecutive years growing more than 4% per year, which represents an average annual increase of 6.4 billion liters between 2021 and 2023. 

The reduction in the grains trucked to export hubs should cause a retraction in diesel demand in the first half of 2024. This is a direct consequence of an adverse climate in the latter part of 2023, especially affecting soybean and corn production in Brazil's Central-West region. 

The growth of the economy, the diminishing effects of El Niño on the climate, more income transfer programs, and the new Growth Acceleration Program (PAC) should reverse this trend throughout 2024, and especially in 2025 - a year with forecast growth of 3.0%, or 4.6 billion liters, in Brazil's liquid fuel demand. 

Click here and read the February 2024 edition.


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