China Bought Half Of Brazil's Oil Exports As Iran War And Hormuz Disruptions Drove Sales To Record Highs
India, Oct. 16 -- RIO DE JANEIRO - Brazil solidified its position as a vital energy partner for Beijing over the first three quarters of the year, purchasing half of all crude oil exported by South America's largest economy as geopolitical turmoil shut down critical Middle Eastern shipping lanes. According to a comprehensive trade analysis published by the Brazil-China Business Council, sales of Brazilian petroleum to Chinese markets skyrocketed by 49 per cent to reach an unprecedented $21.8 billion between January and September.
The historic surge underscores how regional hostilities and security bottlenecks in the Persian Gulf are fundamentally reshaping global commodity supply chains and long-term energy procurement strategies.
The d...
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