Brazil Binges on Russian Fuel Like Never Before
- Imports of Russian products to reach 235k b/d in Aug.: Kpler
- Brazil became second-largest buyer of Russian diesel globally
Oil tankers sit at a sea terminal in Sao Sebastiao, Brazil.
Photographer: Dado Galdieri/BloombergThis article is for subscribers only.
Brazil is poised to import a record amount of Russian fuel this month, consolidating its position as the Latin American country’s top supplier as Moscow builds new markets following a European Union ban.
Imports of Russian petroleum products is set to rise 25% from July to about 235,000 barrels a day, data from energy analytics firm Kpler Ltd. show. That far outstrips the US, which used to be Brazil’s top foreign fuel supplier.