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China raises Iranian crude imports in November
(MENAFN) According to a news agency report on Friday, quoting market intelligence company Kpler, China has raised imports of Iranian crude in November after autonomous refiners were given extra import shares for this year.
Based on Kepler, China imported around 18 million barrels of Iranian crude oil during the stated period, equal to around 600,000 barrels a day.
As stated, the imports were nearly 40 percent above those of October and the capacity was the largest since August.
China’s autonomous refiners, referred to as teapots, were ready for a buying spree before the end of 2021 as they aimed to use new import distributions they got during mid-October. That put Russian ESPO crude from the Far East, which normally takes under a week to be distributed, and Iranian oil kept on vessels off China and around Singapore and Malaysia in the spotlight.
Based on Kepler, China imported around 18 million barrels of Iranian crude oil during the stated period, equal to around 600,000 barrels a day.
As stated, the imports were nearly 40 percent above those of October and the capacity was the largest since August.
China’s autonomous refiners, referred to as teapots, were ready for a buying spree before the end of 2021 as they aimed to use new import distributions they got during mid-October. That put Russian ESPO crude from the Far East, which normally takes under a week to be distributed, and Iranian oil kept on vessels off China and around Singapore and Malaysia in the spotlight.
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