Chinese oil refiners turn to African and Brazilian oil as falling freight rates open new buying opportunities beyond Russia
China’s oil refiners are increasing purchases of crude from West Africa and Brazil as falling tanker freight rates make Atlantic Basin supplies more attractive, while tighter competition for Russian oil and the disappearance of Iranian barrels force buyers to seek alternative sources.
By Adekunle AgbetiloyeSouth Africa
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About this article
- Length
- 8 words · 1 min read
- Published
- October 29, 2026
- Byline
- Adekunle Agbetiloye
- Source
- Business Insider