Mexico siphons excess U.S. gasoline supply
The U.S. has quietly been increasing exports of gasoline to record levels, and that is one factor that could be helping reduce the nation's oil glut on the margin.
"It's Mexico, Mexico, Mexico and Latin America. I guarantee that's what it is," said Tom Kloza, of Oil Price Information Service. Analysts said Mexico has boosted its imports of U.S. refined gasoline, largely because its refineries are less efficient and are running at about 50 percent capacity.