April 30 (Reuters) – Brazil’s Petrobras has cut to zero its oil exports to the U.S., as the conflict in Iran reshaped oil flows across the world and China became the destination for around 62% of the state-run oil firm’s crude sent abroad in the first quarter.
Petrobras exported about 1.12 million barrels per day of oil and derivatives between January and March, up 47% from a year ago.
China, which in the first quarter of 2025 received about 33% of Petrobras oil exports, has bought record amounts of Brazilian crude in March after the closure of the Strait of Hormuz.
India became the second top destination for Brazilian oil, receiving around 15% of the total, up from 14% a year ago.
“India, currently the world’s second-largest importer of seaborne oil, has cemented itself as a strategic market,” Petrobras said in a securities filing.
The surge in exports to China and India led to a drop in oil flows to the rest of Asia, which received just 8% of oil exports in the first three months of the year, from 28% a year ago.
Exports to the U.S. fell from 3% a year earlier to zero in the first three months of this year, and exports to Europe dropped from 19% to 8% in the same period.
Petrobras’ oil production in Brazil rose around 16% in the quarter to 2.58 million bpd, the firm said, with total sales of oil, gas and derivatives in January-March up around 12% year-on-year, totaling 3.22 million bpd.
Brazil Energy Insight 
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