In brief

Brazil became China's second-largest oilOilAssetEnergy commodity whose price reflects supply, demand, inventories, logistics and geopolitical risk.Open in the Market Map ↗ supplier.

It overtook Saudi Arabia.

What we know

04

  1. Verified fact · material

    According to Chinese customs data released on October 20, 2026, Brazil overtook Saudi Arabia as China's second-largest crude supplier from January to September, behind Russia.

    Ranking.

    Sources[01][02]

  2. Verified fact · material

    From January to September, Brazil shipped 44.29 million tonnes versus Saudi Arabia's 43.12 million.

    Volumes.

    Sources[01][02]

  3. Verified fact · material

    In September, Brazil shipped 5.15 million tonnes, up 18% from a year earlier, and Saudi Arabia 2.70 million, down 62%.

    Month.

    Sources[01][02]

  4. Verified fact

    According to CNN Brasil, Russia shipped 9.94 million tonnes in September.

    Leader.

    Sources[01]

Transmission to assets

Market read-through

The Saudi drop in September explains much of the shift in the year-to-date figures.

Portfolio impact

01
Petroleiras exportadoraspositive

Chinese demand supports exports.

OilOilAssetEnergy commodity whose price reflects supply, demand, inventories, logistics and geopolitical risk.Open in the Market Map ↗ price swings.

What would change the view: Demand holds.

commodity15% confidence

Direction is an explanatory hypothesis, not a forecast or recommendation.

Next signals

What to watch

  • October customs data
  • Pre-salt output

Limits of the reporting

What remains uncertain

  • The figures come from Reuters calculations on Chinese customs data.

Full sources

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01
CNN BrasilBrasil supera Arábia Saudita e vira 2º fornecedor de petróleo à Chinaindependent newsroom
02
Poder360Brasil passa sauditas e vira 2º maior fornecedor de petróleo da Chinaindependent newsroom
06