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Brazil increases oil exports amid China's search for Iranian crude alternatives
Brazil’s oil production and exports have reached record levels this year due to increased Chinese demand amid disruptions in the Middle East caused by the US-Iran war. The country’s crude output rose to 4.5 million barrels per day in June, with exports to China more than doubling in value during the first half of the year. Brazil is positioning itself as a key alternative energy supplier as global oil prices increase and geopolitical instability affects traditional supply routes.
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