Asian imports of Iranian oil rise 27%

Monday, May 1, 2017


Imports of Iranian crude by its four main buyers in Asia rose nearly 27 percent in March from a year earlier as the country took advantage of its exemption from a production cut agreed by OPEC and some other major producers, Reuters reported.

Iran's top four Asian buyers - China, India, South Korea and Japan - imported 1.97 million barrels per day (bpd) last month, government and ship-tracking data showed.

In the first quarter, these four countries imported 1.87 million bpd, a 47 percent rise from the same period in 2016.

Iran was exempted from a deal between the Organization of the Petroleum Exporting Countries and other producers, including Russia, to reduce output by 1.2 million bpd from Jan. 1.

Japan's trade ministry on Friday released official data, showing Iranian imports were at 224,604 bpd last month, up 13 percent from a year earlier and slightly down from the previous month.


*Source: ISNA 

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