The technological evolution of the mining reserve and the affordable pricing strategies are the ones that are encouraging the country to emerge as a top exporter in the global industry. Import Globals Brazil Trade Data serves as a valuable resource for business holders that are proactively looking for actionable trade insights by offering detailed information on export volumes, shipment trends, and trading partners.

A Brief Overview of Brazil’s Crude Oil Exports in 2024

With a rich history in the petroleum industry dating back to the early 20th century, Brazil has recorded itself as one of the world's leading exporters of crude oil. The country has exported crude oil by around 1.6 million barrels per day, with a significant increase of 2.5% from the previous year. The discoveries and the increased investment in the exploration and production activities of Brazil, accompanied by the increasing crude oil exports and offshore reserves, have made several major discoveries in the pre-salt fields located on the southeastern coast, fostering the annual valuation.

The export of crude oil from Brazil has come a long way from 2020, with an annual valuation of 15.8 billion US dollars, to a staggering export of crude oil worth 28 billion US dollars in 2024. The consistent efforts of the government authorities towards modernizing and expanding the oil production infrastructure have been playing a crucial role in the steady growth of this specific commodity. The latest trade statistics on Brazil's crude oil export data have reported that the suitable partnership of the nation with foreign companies like Shell and ExxonMobil has been boosting the position as a major player in the global crude oil market. It has not only recorded significant investments in the country but has also provided the nation with access to advanced technology and expertise that has further enhanced the production capacity.

A Brief Overview of Brazil's Trade in 2024

Major Crude Oil Exports of Brazil in 2024

Brazil, being one of the crucial role-players in the crude oil export industry, has introduced diversification in its global services to counter the ongoing demands positively. According to the Brazil Export Data, the top 10 leading variants of crude oil that have been exported from the nation in 2024 with their annual trade share are,

1. Lula Blend - Export trade value - 9.8 billion US dollars; Annual trade share - 24%

2. Roncador Blend - Export trade value - 6.5 billion US dollars; Annual trade share - 18%

3. Marlim Blend - Export trade value - 4.3 billion US dollars; Annual trade share - 12%

4. Buzios Blend - Export trade value - 2.9 billion US dollars; Annual trade share - 8%

5. Malaysia Oil Company(MOC) Blend - Export trade value - 2.3 billion US dollars; Annual trade share - 6%

6. Carioca Blend - Export trade value - 1.8 billion US dollars; Annual trade share - 4%

7. Iara Blend - Export trade value - 1.7 billion US dollars; Annual trade share - 3%

8. Sapinhoa Blend - Export trade value - 1.2 billion US dollars; Annual trade share - 2.5%

9. Itapu Blend - Export trade value - 1 billion US dollars; Annual trade share - 1.8%

10. Urals Blend Crude Oil - Export trade value - 900 million US dollars; Annual trade share - 1%

The Leading Crude Oil Export Trade Partners of Brazil in 2024

Brazil to counter its export valuation of crude oil at a positive rate has maintained a stable trade relationship with different regions; having a higher demand for crude oil imports. According to the Brazil Trade Data; the top 10 leading export trade partners of the nation for crude oil in 2024 are,

1. China - According to the China Import Data, the total valuation of crude oil export from Brazil in 2024 - 6.6 billion US dollars.

2. United States - According to the USA Import Data, the total valuation of crude oil exports from Brazil in 2024 - 5.8 billion US dollars.

3. India - According to the India Import Data, the total valuation of crude oil export from Brazil in 2024 - 4.9 billion US dollars.

4. Netherlands - According to the Netherlands Import Data, the total valuation of crude oil export from Brazil in 2024 - 3.8 billion US dollars.

5. Japan - According to the Japan Import Data, the total valuation of crude oil export from Brazil in 2024 - 2.7 billion US dollars.

6. South Korea - According to the South Korea Import Data, the total valuation of crude oil export from Brazil in 2024 - 1.8 billion US dollars.

7. Spain - According to the Spain Import Data, the total valuation of crude oil export from Brazil in 2024 - 1.5 billion US dollars.

8. Chile - According to the Chile Import Data, the total valuation of crude oil export from Brazil in 2024 - 1 billion US dollars.

9. Argentina - According to the Argentina Import Data, the total valuation of crude oil export from Brazil in 2024 - 900 million US dollars.

10. Singapore - According to the Singapore Import Data, the total valuation of crude oil export from Brazil in 2024 - 700 million US dollars.

Government Initiatives Supporting the Export of Crude Oil From Brazil in 2024

The Government Authority of Brazil has implemented several initiatives for countering the global export sector at a positive rate, to enhance its position in the global energy market while balancing economic growth with environmental conservation. The joining of the OPEC-Plus Alliance in January 2024 is considered a significant step by the Authority towards integration into global oil markets. The participation of the nation in the OPEC-Plus allows it to engage in strategic discussions and gain insights into global oil market dynamics.

The launch of the National Energy Transition Policy also plays a crucial role by promoting the country to coordinate with Brazil's shift towards a sustainable energy future. It is expected to seek investments in renewable energy sources while optimizing the use of previously existing fossil fuel resources for efficient funding of the transition. The regulatory reform to facilitate oil exports has streamlined the export processes by reducing the bureaucratic hurdles and improving the infrastructure. This initiative is expected to enhance the efficiency of oil export operations, meanwhile attracting foreign investment in the sector.

Conclusion - The crude oil export of Brazil provided by Import Globals, offers a comprehensive and reliable source of trade intelligence for business holders who are actively looking for potential marketing zones for service investment. It helps the users access the detailed export data essential for identification of marketing opportunities and promotes the tracking of trade flows, which helps them take informed decisions based on global trends.

FAQ'S

Que. What is the export trade value of crude oil from Brazil in 2024?
Ans. The export trade value of crude oil from Brazil in 2024 is 28 billion US dollars.

Que. What is the top crude oil exported variant of Brazil in 2024?
Ans. Lula Blend is the top crude oil exported variant of Brazil in 2024.

Que. Who is the top export trade partner of Brazil for crude oil in 2024?
Ans. China is the top export trade partner of Brazil for Crude Oil in 2024.

Que. Where can you get a detailed trade analysis of Brazil's crude oil exports in 2024?
Ans. By subscribing to Import Globals, you can get a detailed trade analysis of Brazil's crude oil exports in 2024.

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