Russia leads China oil imports as Brazil overtakes Saudi

Russia retained its position as the leading oil supplier to China in September. However, customs data released Tuesday revealed a significant shift in ranking: Brazil overtook Saudi Arabia to become the second-largest source of crude oil for the first nine months of 2026.

Russian volumes and monthly changes

China imported 9.94 million tons of Russian crude last month, equivalent to approximately 2.42 million barrels per day. This figure represents a 20 percent increase compared to the same period one year prior. Despite the annual growth, monthly volumes declined by 11 percent relative to August.

Brazil surpasses Saudi Arabia

During the January through September period, Chinese purchases from Brazil totaled 44.29 million tons. In contrast, imports from Saudi Arabia amounted to 43.12 million tons, placing the South American nation ahead of the Gulf kingdom for the cumulative timeframe.

In September alone, shipments from Brazil reached 5.15 million tons, or roughly 1.25 million barrels daily, marking an 18 percent rise on an annual basis. Meanwhile, Saudi exports to China fell sharply to 2.70 million tons, or about 660,000 barrels per day, reflecting a 62 percent drop compared to the previous year.

Iraq and Oman performance

Imports from Iraq stood at 4.84 million tons, translating to nearly 1.18 million barrels per day. These volumes decreased by 19 percent year-on-year but surged by 248 percent when compared to August figures.

Crude arrivals from Oman totaled 1.22 million tons, or approximately 300,000 barrels daily. This represented a 54 percent decline annually, though it marked a 30 percent increase over the preceding month.

Malaysia and Indonesia trends

Malaysia, identified as the primary hub for re-exporting sanctioned Iranian oil, supplied 1.16 million tons to China in September. This equates to around 280,000 barrels per day, showing reductions of 70 percent annually and 56 percent month-on-month.

Indonesian imports reached 1.72 million tons, or roughly 420,000 barrels daily. Volumes from this source dropped by 19 percent compared to the previous year and by 44 percent against August levels.

Absence of US, Venezuela, Iran

The customs records indicated zero crude oil imports from the United States, Venezuela, and Iran during September. This absence mirrors the situation recorded in the corresponding period of the previous year.

For conversion purposes, one ton of crude oil is equivalent to approximately 7.3 barrels.