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FinancialNews


  • 03-03-22

    China’s Iranian oil acquisition registers two-fold increase

    (MENAFN) According to a tanker tracking data released on a news agency report on Tuesday, China's acquisitions of Iranian oil have jumped to historical levels during the newest months, surpassing a 2017 peak when the exchange was not endangered to U.S. penalties.

    Chinese imports surpassed 700,000 barrels per day (bpd) for January, based on predcictions of three tanker trackers, exceeding the 623,000 bpd peak registered by Chinese customs in 2017 before former U.S. President Donald Trump imposed sanctions in 2018 on Iranian oil exports. One tracker projected imports stood at 780,000 bpd in November-December on a median level.

    The increasing level of the acquisitions by the main oil importer in the world comes amid discussions between Tehran and world powers to recover a 2015 nuclear agreement that is going to remove U.S. penalties on Iranian oil exports. The discussions have increased during in the newest weeks.

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