Russia's oil shipment to Brasil hits record

In October, Russia delivered to Brazil a record batch of crude oil for the entire time of the countries' trade relations — 207 thousand tons worth $ 133 million — and became one of the three largest exporters to this country at the end of the month.

It follows from the analysis of data from the Brazilian state service.

Brazil resumed oil purchases from Russia in early autumn after a two—year break, and in October the volume of imports increased 2.5 times to 207.4 thousand tons, or about 1.5 million barrels. The cost of the party also increased dramatically — 2.8 times, to $ 133.25 million, according to PRIME.

The October oil supply, both in terms of volume and cost, was the largest since at least 1997 — there are no earlier statistics in the public domain. Prior to that, Brazil bought a record volume of oil in May 2002 at the level of 139.8 thousand tons (1 million barrels), and the previous maximum in value was in June 2010 at $86.2 million.

This allowed Russia to become the third largest oil supplier to Brazil in October. Only the USA ($346 million) and neighboring Guyana ($187 million) are ahead. The top five also includes Algeria ($112 million) and Saudi Arabia ($98 million).

Since the beginning of the year, Brazil has purchased $181 million worth of Russian oil, making Russia the 11th largest supplier of this raw material. The main sellers of oil to the South American country in 2023 were Saudi Arabia ($1.5 billion), the United States ($1.4 billion) and Algeria ($1.3 billion).