Commodities
Brazil Braces for Record Amount of Russian Diesel This Month
- Spike precedes Moscow’s vow to deepen oil export cuts in 2024
- Record flow of Russian fuel to Brazil is a blow to US refiners
This article is for subscribers only.
Brazil is bracing for a record amount of diesel and gasoil from Russia this month ahead of Moscow’s pledged supply cuts in the first quarter.
At 10 million barrels, Russian diesel imports into the South American nation will more than double volumes from the previous month, according to Kpler data compiled by Bloomberg. The jump precedes Russia’s plan to deepen export cuts of oil and fuel in the first quarter, along with other OPEC+ allies.