Following several continuously declining monthly figures in 2014, Mexican oil demand showed some recovery in September compared to the same month in 2013. This is in line with September’s PMI data, which shows an overall improvement in manufacturing. Looking at the different products, gasoline, gasoil and jet fuel requirements have all been partly offset by declines in residual fuel oil and LPG. The risks for the 2015 Mexican oil demand remains however skewed to the downside, and depend mainly to the development of the overall economy and the degree of fuel substitution.
