Brazil’s crude oil exports rise to nine-month high

Oil

Brazil’s crude oil exports rose by 30K b/d m-o-m to 1.57M b/d in April, rising for the third consecutive month to the highest level since July 2020, according to preliminary data from Brazil’s trade ministry. Loadings of fuel oil also increased by 200K b/d m-o-m to a four-month high of 370K b/d. Crude oil imports jumped by 100K b/d to 230K b/d, a ten-month high, with arrivals of diesel surging by 110K b/d m-o-m to 290K b/d, the highest since November 2019.