Brazil Becomes China's Third Largest Supplier of Crude Oil

Brazil Becomes China’s Third Largest Supplier of Crude Oil

Written by Paulo Nogueira

Published on 25/10/2020 at 20:27

Updated on 25/10/2020 at 20:38

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China Snagged 13% More Oil This Year Compared to September 2019. Brazil Even Surpassed Iraq in Supply to the Eastern Country, According to Official Data

(Reuters) – Brazil jumped to the third largest supplier of crude oil to China in September, import data showed on Sunday, as China’s independent refineries secured cheap supplies of relatively high-quality oil from Brazilian national production.

Brazil’s imports reached 4.49 million tons, compared to 2.96 million tons a year earlier, according to data from the General Administration of Customs of China. Brazil surpassed Iraq, which fell to the fifth largest supplier.

China’s imports from Brazil from January to September totaled 33.69 million tons, an increase of 15.6% compared to the previous year, according to Reuters calculations based on the data. China accounts for 70% of Brazil’s oil exports, state-owned Petrobras said in July.

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Brazil Becomes China’s Third Largest Supplier of Crude Oil

China Snagged 13% More Oil This Year Compared to September 2019. Brazil Even Surpassed Iraq in Supply to the Eastern Country, According to Official Data

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