Crude Oil Export of Brazil in 2024: A Brief Overview of the Top Trade Partners

The crude oil export of Brazil has come across a recent hike in its trade in the present days due to the vast production capacities of the mining industries and the surge in export rates, largely driven by increased production from pre-salt offshore fields, accounting for 80% of the total output of the nation. Despite the growth in crude oil exports, the country has still faced some challenges in its refined petroleum sector, which has led to a trade deficit of 5.3 billion for oil products in 2024.

The growing global demand for crude oil from the trade firms of Brazil and the increasing trade partnership with top importers like China, accounting for 44% of exports followed by the United States and Spain, has indulged the export valuation. The overall shipment recorded an export trade value of 27 billion US dollars of crude oil exports in 2024. Import Globals Brazil Import Data highlights the regional shipments of crude oil from the trade firms of the nation to other leading importing destinations. This properly highlights the potential marketing zones that can be a valuable tool for business owners who are looking for services, expansion, and opportunities to invest their rates for obtaining suitable outgrowth.

THE SIGNIFICANCE OF CRUDE OIL EXPORTS IN THE ECONOMY OF BRAZIL

Brazil’s crude oil export has reached a historical milestone by solidifying its position as the leading exporter of crude oil, surpassing traditional exports like soya beans. The export trade of crude oil in 2024 has helped the authorities strengthen its trade balance and valuable foreign exchange relations with the topmost traders worldwide. The pre-salt production boom, contributing around 80% of its oil output, is considered a backbone towards the entire growing economy of the nation, enhancing its geopolitical and economic influence.

The high-quality production and the technological evolution of the manufacturing units has not only attracted substantial domestic and foreign investment opportunities, but has also opened up employment offers over offshore dealing infrastructure, stimulating related industries like shipping, refining, and services.

THE LEADING VARIANTS OF CRUDE OIL EXPORTED FROM BRAZIL IN 2024

Brazil being one of the top exporting regions of crude oil has introduced a diversifying portfolio in the overall global exports. According to the Brazil Export Data, the top 10 leading variants of crude oil exported from the nation in 2024 are,

  1. Lula Oil — The export trade value of Lula Oil from Brazil in 2024–6.5 billion US dollars
  2. Buzios Oil — The export trade value of Buzios Oil from Brazil in 2024–4.7 billion US dollars
  3. Tupi Oil — The export trade value of Tupi Oil from Brazil in 2024–3.8 billion US dollars
  4. Marlim Oil — The export trade value of Marlim Oil from Brazil in 2024–2.5 billion US dollars
  5. Mossoro Blend — The export trade value of Mossoro Blend from Brazil in 2024–2.2 billion US dollars
  6. Ubarana Crude — The export trade value of Ubarana Crude from Brazil in 2024–1.8 billion US dollars
  7. Peregrino Oil — The export trade value of Peregrino Oil from Brazil in 2024–1.2 billion US dollars
  8. Jubarte Oil — The export trade value of Jubarte Oil from Brazil in 2024–1 billion US dollars
  9. Campos Crude — The export trade value of Campos Crude from Brazil in 2024–876 million US dollars
  10. Caratinga Oil — The export trade value of Caratinga Oil from Brazil in 2024–654 million US dollars

THE LEADING EXPORT TRADE PARTNERS OF BRAZIL FOR CRUDE OIL IN 2024

Brazil has solidified its position as a leading exporter of crude oil by adopting different trade strategies implemented by foreign traders. According to the Brazil Customs Data, the top 10 leading export trade partners of Brazil for crude oil in 2024 are,

  1. China — The export trade value of crude oil from Brazil to China in 2024–5.1 billion US dollars

Top 5 variants of crude oil exported

1. Brent Blend

2. West Texas Intermediate

3. Bonny Light

4. Maya Heavy

5. Urals Blend

2. United States — The export trade value of crude oil from Brazil to the United States in 2024–4.8 billion US dollars

Top 5 variants of crude oil exported

1. Arab Light

2. Mars Blend

3. Basrah Light

4. Oman Export Blend

5. Buzios Oil

3. India — The export trade value of crude oil from Brazil to India in 2024–3.2 billion US dollars

Top 5 variants of crude oil exported

1. Sapinhoa Oil

2. Marlim Crude

3. Roncador Crude

4. Albacora Oil

5. Jubarte Crude

4. Netherlands — The export trade value of crude oil from Brazil to the Netherlands in 2024–2.4 billion US dollars

Top 5 variants of crude oil exported

1. Frade Crude

2. Merluza Crude

3. Caratinga Oil

4. Urucutuca Crude

5. Garoupa Oil

5. Spain — The export trade value of crude oil from Brazil to Spain in 2024–1.8 billion US dollars

Top 5 variants of crude oil exported

1. Piranema Crude

2. Tuna Crude

3. Pampo Crude

4. Papagaio Crude

5. Xareu Oil

  1. Japan — The export trade value of crude oil from Brazil to Japan in 2024–1 billion US dollars

Top 5 variants of crude oil exported

1. Peroa Oil

2. Lula Blend

3. Sapinhoa Blend

4. Iracema Blend

5. Jupiter Grade

7. South Korea — The export trade value of crude oil from Brazil to South Korea in 2024–800 million US dollars

Top 5 variants of crude oil exported

1. Buzios Grade

2. Peregrino Crude Oil

3. Tartaruga Verde Crude Oil

4. Bauna Field Crude Oil

5. Campos Basin Blend

8. Turkey — The export trade value of crude oil from Brazil to Turkey in 2024–500 million US dollars

Top 5 variants of crude oil exported

1. Sergipe-Alagoas Blend

2. Amazon Blend

3. Barracuda Oil

4. Frade Oil

5. Jurará Light

9. Argentina — The export trade value of crude oil from Brazil to Argentina in 2024–340 million US dollars

Top 5 variants of crude oil exported

1. Espadarte Sul Medium

2. Belford Roxo Heavy

3. Marlim Blend

4. Caratinga Oil Field Blend (P-47)

5. Siri Field Crude Oil

10. Chile — The export trade value of crude oil from Brazil to Chile in 2024–278 million US dollars

Top 5 variants of crude oil exported

1. Barracuda

2. Marlim Blend

3. Camarupim

4. Roncador

5. Campos Basin

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