⁍ Brazil jumped to China’s third-biggest crude oil supplier in September.
⁍ China’s independent refiners scooped up cheap supplies of the South American exporter’s relatively high quality oil.
⁍ Brazil overtook Iraq, which fell to fifth-biggest supplier.
– China’s crude oil imports jumped 13% in September from a year earlier as the country’s independent refiners picked up cheap supplies from Brazil and the US, according to data from the General Administration of Customs. Brazil, which makes up 70% of China’s oil exports, became China’s third-biggest crude oil supplier in September, overtaking Iraq, which fell to fifth, Reuters reports. For the first nine months of the year, China’s imports of crude from Brazil were 33.69 million tons, up 15.6% from a year earlier. US imports in the first nine months of the year were 3.9 million tons, up 13% from a year earlier.
Source: https://www.reuters.com/article/us-china-economy-trade-oil/brazil-soars-to-chinas-no-3-crude-oil-supplier-in-september-idUSKBN27A07G