Asia accounted for 85% of Petrobras oil exports in the first quarter

Petrobras stepped up its oil exports at the start of this year, directing most of its output to the Asian market, with a strong concentration in China, which consolidated its position as the main destination for Brazilian crude.

The state-run company exported an average of 888,000 barrels of oil per day between January and March. Of that total, 85% was shipped to Asian countries, with China absorbing 62% of the cargoes, making it Petrobras’s main international customer.

The following chart tracks the monthly performance of Brazilian crude oil exports over the last three years. This data is sourced directly from Datamar’s DataLiner platform:

Crude Oil Exports | Jan 2023 – Mar 2026 | WTMT

Source: DataLiner (click here to request a demo)

The volume sent to China represents an increase compared with previous periods. In the fourth quarter of 2025, China had received 52% of Petrobras exports, while in the first quarter of that year its share had been 33%. The shift reflects demand from the Chinese market, which continues to play a central role in the company’s commercial strategy.

In a report, Petrobras highlighted the relevance of the Asian country in the global market. “China is the world’s largest seaborne oil importer and is the destination with the greatest capacity to absorb additional volumes of medium crude,” the company said. Petrobras also noted that the increase in exports has expanded the weight of China in its portfolio. “With the overall increase in exports since the first quarter of 2025, China’s share as a destination for Petrobras oil exports has become even more relevant, at the expense of other destinations, because it has made it possible to place larger volumes while maintaining the competitiveness of Petrobras’s export basket.”

Beyond China, India appears as the second main market for Brazilian oil, accounting for 15% of exports in the first quarter. According to Petrobras, the country “has consolidated itself as a strategic market” for the company. In that context, Petrobras strengthened its commercial presence with the renewal of contracts with state-owned Bharat Petroleum Corporation and Hindustan Petroleum Corporation, as well as the signing of new agreements with Indian Oil Corporation and Mangalore Refinery and Petrochemicals.

Other destinations also remained on the export map, although with smaller shares. Asian countries other than China and India, together with Europe, accounted for 8% of sales each. Latin America received 5% of the cargoes exported in the period.

The United States, in turn, did not appear as a relevant buyer at the start of the year. According to the survey, the country currently imports little or no Brazilian oil, reinforcing the trend of greater export concentration toward the Asian market.

Source: Brasil 247

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