Brazil jumps to third place among crude exporters to China

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Brazil jumped to third place among the largest exporters of crude oil to China in September, as independent Chinese refiners bought cheap supplies of the relatively high-quality oil supplied by the South American country.
Imports from Brazil totaled 4.49 million tons, up from 2.96 million tons a year ago, according to data from the Chinese Customs Administration. Brazil led Iraq, which fell to fifth place.
Chinese imports in the first nine months of this year amounted to 33.69 million tons, an increase of 15.6 compared to a year ago, according to calculations made by “Reuters” based on the data. And Brazil’s Petrobras said in July that China accounts for 70 percent of Brazil’s oil exports.
According to the data, Saudi Arabia regained the top supplier of crude to China last month, after losing it to Russia over the past two months.
Imports from the Kingdom amounted to 7.78 million tons, equivalent to 1.89 million barrels per day, up from 1.24 million barrels per day last August.
Russia exported 7.48 million tons last month, or 1.82 million barrels a day, an increase of 18.6 percent from a year ago and 32.8 percent from August.
In the first nine months, Russia held first place, with exports of 64.62 million tons, 16 percent more than a year ago. Saudi Arabia ranked second with exports of 63.57 million tons, up 6.5 percent year-on-year.
Imports from the United States jumped to 3.9 million tons in September, compared to 517,982 tons a year ago.
China’s imports increased 13 percent in the first nine months, as refiners boosted their production to keep pace with the rapid recovery of demand following the pandemic and the build-up of stocks of cheap oil at unprecedented rates.



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