Iran ships over 1.36m bpd of oil to main Asian buyers in Nov., data shows

December 30, 2017

TEHRAN – Iran’s top four Asian buyers - China, India, South Korea and Japan - imported 1.362 million barrels per day (bpd) of Iranian crude oil in November, government and ship-tracking data showed.

According to Reuters, China was the biggest buyer, importing 557,876 bpd. South Korea, India, and Japan ranked next, importing 345,700 bpd, 265,700 bpd, and 193,141 bpd, respectively.

Imports fell 28.7 percent in the mentioned month from a year ago, marking the biggest year-on-year decline since April 2016.

The drop comes after imports hit highs earlier this year and last when Tehran ramped up exports after the lifting of West-imposed sanctions.

Tehran is pushing to retain its prized Asian customers with price reductions to boost the appeal of its crude compared with other Middle Eastern grades even as the potential threat of a renewal of U.S. sanctions looms.

EF/MA
 

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