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Brazil Emerging as Significant Diesel Outlet for Russian Flows

OIL PRODUCTS

Brazilian imports of Russian diesel are expected to soar in April, accounting for 53% of the total diesel shipped to the country versus almost none a year ago according to Argus.

  • The estimate takes into account expected shipments of Russian diesel brought in by 10 to 15 ships, which typically carry about 50,000 cubic meters of fuel.
  • Russian diesel is gaining market share from US diesel, typically the regions biggest supplier.
  • In 2022, Brazil's diesel imports were dominated by US product, which represented 57.2% of the market, while Russia had just 1%.
  • Brazil has emerged as a key location for Russian diesel after European Feb 5 sanctions came into place.
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