Lower freight costs, higher production and a rise in the price of oil from competitor Saudi Arabia will see a sharp surge in volumes.
Brazil China oil trade
Independent refineries in Shandong import less than half July 2020 tonnage as cheaper barrels from Russia and Iran edge out Brazilian crudes.
Ultra-deepwater, pre-salt oilfield, which started operation last week, can produce up to 180,000 barrels per day and is expected to hit peak production by December.
Ultra-deepwater field 180 kilometres off Rio de Janeiro already producing up to 180,000 barrels per day.
