Brazil's demand for refined products will soar to record levels over the next two years, led by growth in diesel consumption amid expectations of record agriculture harvests and a recovery in urban mobility to pre-pandemic levels, according to the latest market outlook from the government's Energy Research Co., or EPE. Diesel demand in Latin America's largest economy has been forecast to rise 3.2% year on year in 2023 to a fresh record high of 66.8 billion liters, the EPE said Feb. 15. In 2024, diesel demand was expected to rise an additional 1.5% to 67.8 billion liters.
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