Over 2019，Latin America refiners saw constant pressure amid the regional political unrest and economy climate. Due to a shortage of capital investments，the refining capacity growth was not put in place，while the operation rates at existing plants also kept dropping lower，as the maintenances on a regular basis were often interrupted. Moreover，as US deepened the sanction on Venezuela，refining feedstock and diluents were directly cut short，bringing a further shrink of crude runs and product supplies across the area. Consequently，it gave a continuous rise to product import. In 2020，Latin America is about to see even worse economics which would restrain the product demand，to some extent，as well as the refinery operations and the product supplies.