Brazil clean oil product imports reach 23-month high

Oil

Brazil’s clean oil product imports increased by 249K b/d m-o-m and 297K b/d y-o-y to 658K b/d in October, rising to the highest level since November 2019, according to preliminary data from Brazil’s trade ministry. Arrivals of diesel jumped by 171K b/d m-o-m to a 23-month high of 375K b/d, while imports of naphtha rose by 72K b/d m-o-m to 184K b/d, the highest since April. Fuel oil exports increased by 69K b/d m-o-m to 261K b/d.

Crude oil exports rose by 94K b/d m-o-m and 362K b/d y-o-y to 1.44M b/d, while imports declined by 30K b/d m-o-m to 123K b/d.