Thursday, June 26, 2014

China's May Iran crude imports up 36 percent, 2nd highest on record


Reuters - Mon Jun 23, 2014

China's Iranian crude oil imports expanded 36 percent in May from a year ago to the second highest on record, customs data showed on Monday, and imports in the first five months of 2014 gained nearly 50 percent over the same year-ago period.
China, Tehran's largest oil client, has since late 2013 been stepping up purchases from the OPEC country after a landmark November nuclear deal eased some sanctions on Iran, making up the main portion of Asia's higher imports since then.
Asian buyers are expected to import about 1.25 million-1.3 million barrels per day (bpd) of Iranian oil in the six months through June, mostly owing to China's increases, industry and government sources have said.