S&P Global Platts

North America: 5 downstream issues to watch in 2025

What’s next for North America's downstream markets? As 2025 unfolds, refiners, policymakers, and market participants face critical challenges that could reshape the industry.

  • Will tariffs on Canadian crude and refined products disrupt US refiners?
  • Can capacity rationalization prevent weak margins?
  • Is a shift in US biofuel policy on the horizon?
  • How will changing work-from-home trends impact gasoline demand?
  • Will gasoline markets experience another year of strong octane values?

Get expert insights from S&P Global Commodity Insights analysts as they explore the major trends shaping North American refining and fuel markets in 2025.


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