Brazil’s crude exports fall to three-month low
Brazil’s crude oil exports declined by 240K b/d m-o-m and 560K b/d y-o-y to 1.02M b/d in April, falling for the second month in a row to the lowest level since January, according to preliminary data from Brazil’s trade ministry. Loadings of fuel oil increased by 40K b/d m-o-m to 340K b/d however, rising to the highest level since May 2021. Crude oil imports decreased by 110K b/d m-o-m to a four-month low of 170K b/d. Total arrivals of clean oil products jumped by 190K b/d m-o-m to a six-month high of 540K b/d, supported by imports of naphtha and diesel which increased by 100K b/d m-o-m to 180K b/d and by 80K b/d m-o-m to 330K b/d respectively.