Data confirms Iran’s oil export at above 1 mln bpd this year
Iran’s crude oil exports rose to above 1 million barrels per day (bpd) at the start of this year and continued to remain above that level over January and February, shows a new report citing data by tanker tracker services.
The Tuesday report by Reuters news agency said that Iran’s oil sales to China reached record levels of above 700,000 bpd in January as independent refiners in the East Asian country increased their purchases to both enjoy discounts offered by Iran and to comply with China’s internal regulations.
The report said China’s oil imports from Iran had exceeded levels seen before the United States imposed sanctions on Iran in 2018 when Washington decided to pull out of an international deal on Tehran’s nuclear program.
However, figures by a single tanker tracker service cited in the report showed that Chinese purchases of Iranian oil had amounted to 780,000 bpd in November-December on average.
The major increase in Iranian oil exports comes despite relentless efforts by the US in recent years to hurt Iran’s economy through sanctions targeting the country’s massive energy sector.
The report by Reuters said that Iran’s oil sales to private buyers in China had generated more than $20 billion in revenue over the past two years.
It said that Iran is unlikely to stop supplying oil to those buyers even after it reaches an agreement with world powers to revive the nuclear deal.
Talks on saving the deal have intensified in recent weeks in Vienna where Iranian and American diplomats have been holding indirect negotiations.
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