New routes and suppliers are entering the stage. Brazil is increasingly emerging as a strategically important, geographically diversified source of crude oil. Its growing offshore production and status as a net exporter make it an attractive alternative to Middle Eastern supply, particularly when geopolitical disruptions threaten oil flows through the Persian Gulf and Strait of Hormuz.

Brazil isn't risk-free. There are environmental, political and logistical risks, but its oil production is geographically removed from the principal Middle Eastern conflict zones and its exports can help diversify global supply.

https://www.reuters.com/business/energy/chinese-refiner-sino...

https://www.reuters.com/commentary/reuters-open-interest/why...

https://www.thetimes.com/business/energy/article/hormuz-cris...