Brazil's Oil Exports to China Double as Iran War Upends Crude Flows

Brazil more than doubled the volume of its oil exports to China, with export values also nearly doubling, in the first quarter of 2026 from a year earlier, as the Middle East conflict and the closed Strait of Hormuz are re-arranging global commodity flows. The value of Brazil’s crude oil exports to China surged by 94.6% to $7.2 billion in the first quarter, per Brazilian government data compiled by the Brazil-China Business Council. The volume of oil exports, 16 million metric tons, was 122% higher compared to the first quarter of 2025,…