Asia's November imports of Iranian oil more than double from year ago

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Imports of crude oil by Iran's four major buyers in Asia in November more than doubled for a second straight month from a year ago, with purchases by India and South Korea more than four times higher.

Iran's top four Asian buyers - China, India, South Korea and Japan - imported 1.94 million barrels per day (bpd) last month, up 117 % on a year earlier, government and ship-tracking data showed. 

 

That was just short of the 2016 peak of 1.99 million bpd hit in the previous month, which was the highest since at least 2010, according to data by International Energy Agency.The volumes were in line with the OPEC member's crude oil and condensate export plans. 


Iran was exempted from last month's OPEC deal to reduce output by 1.2 million bpd starting Jan. 1, a victory for Tehran which has argued it needs to regain the market share it lost under Western sanctions targeting its nuclear program.

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