Oil
China’s Refiners Turn to Africa and Brazil Crude as Freight Rates Ease
CEII brief
OilPrice.com reported on 28 Oct 2026: China’s Refiners Turn to Africa and Brazil Crude as Freight Rates Ease.
Read the full story on OilPrice.comChina’s refiners are buying crude oil from West Africa and Brazil after freight rates eased in the past two weeks, while competition for Russian supply is stronger and Iranian barrels have disappeared.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
16.1% of Brazil’s merchandise exports were fuels in 2025Countries in this story
Original reporting © OilPrice.com. Headline and excerpt quoted with attribution; the full article is available on the publisher’s site. CEII’s context is the Centre’s own and does not represent the publisher.
