Mexico's demand for the octane booster will likely rise after the country eased coronavirus-related lockdowns in Mexico City in the week beginning June 5 and state-owned oil firm Pemex ramped up refinery utilization. In the week ending May 1, Pemex produced around 248K b/d of gasoline, a 30.5 increase from lows in mid-March. As Pemex's production of methyl tert-butyl ether (MTBE) has been on the decline, the country relies on imports in order to meet demand. This development may be a boon for US MTBE producers because Mexico consumes roughly two thirds of US-produced MTBE.
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