Asians imported 1.36 mbd of Iranian crude in Nov.
China, India, Japan and South Korea imported 1.36 million barrels per day (mbd) from Iran in November, government and ship-tracking data showed. Tehran is pushing to retain its prized Asian customers, hoping price reductions will boost the appeal of its crude compared with other Middle Eastern grades even as the potential threat of a renewal of US sanctions looms, Reuters reported.
China, the biggest buyer, purchased 8.8 percent less oil from Iran year-on-year, taking around 557,900 bpd.
Meanwhile India’s refiners imported 265,700 bpd of Iranian crude oil in November, while South Korea shipped in 345,700 bpd of oil from Iran during the eleventh month of 2017.
Imports to Japan were down 19 percent from a year earlier to 193,141 barrels per day, data released by the Ministry of Economy, Trade and Industry showed on Thursday.
In the first 11 month of 2017, China imported 627,862 bpd of Iranian crude oil which marks a 1-6-percent rise compared to corresponding figure of 2016, which was 618,202 bpd.
Also, India’s imports of Iranian crude oil during the 11-month period witnessed a 0.1-percent rise, as the country imported 466,600 bpd against 466,100 bpd of Jan.-nov. 2016.
South Korea recorded the main increase of crude imports from Iran (40.7 percent) during January-november 2017 with 416,650 bpd as the country shipped in 296,182 bpd of Iranian oil in related period of 2016.
However, Japanese refiners imported 167,897 bpd of oil from Iran in the first 11 months of 2017, indicating a 25.5-percent drop compared to 225,374 bpd for the same period in 2016.