China's thirst for crude oil pushes Brazil's Dec exports to all-time high.

Brazilian crude oil exports hit a record high in December 2019 with a total 8.7 million tonnes of crude oil exported, as China continues to turn to Brazil for crude. Annual export volumes grew by 5 percent compared to 2018. The December picture matches the overall trend which shows that China has increasingly gone to Brazil to cover part of its crude oil demand.

The previous monthly record for Brazilian crude oil exports of 8.1 million tonnes was set in July 2018, at which time 41 percent of the crude oil was sent to China. In December 2019, 64 percent of total crude exports want to China...