The amount of Brazilian crude oil shipped to independent refineries in China grew to 2.1 million tonnes last month, 61.1 percent more than the month before, S&P Global Platts reports.
The collector of oil market information says Brazil thus replaced Russia as the biggest supplier of oil to Chinese independent refineries.
The report says demand for competitively priced Brazilian Lula crude was the cause, Lula having cost about US$1.10 a barrel in December, while the Russian alternative cost between US$2.50 and US$3 a barrel.
The flow of Brazilian oil to independent refineries in China is likely to remain strong in the next few months, S&P Global Platts says.
