Isfahan (IMNA) – an increase in the export of Iran's oil in the last month is likely due to the fact that this country is preparing itself for the upcoming challenging atmospheres after Trumps' withdrawal from the Joint Comprehensive Plan of Actionand the follow up restrictions on the export of oil. China and India’s demand for buying oil probably remains in a high level even after tightening the sanctions.
According to the figures, Iran exported 2.45 million crude oil barrels per day which has risen to 400,000 barrels in comparison to March; however, the amount of condensate exports has largely remained constant in comparison to the last month. The export of Iran’s oil to Asia has risen from 1.40 million barrels in March to 1.81 million barrels in April which was equal to 67 percent of all the oil exports of Iran, while this figure was 60 percent in March.
The major growth of Iran’s oil exports to Asia was owed to India, which increased its oil purchase from Iran about 60 percent and it has reached to 670,500 bpd. The amount of Iran’s oil exporting to China also increased 20,000 barrels this month and it has reached to 714,467 bpd. The amount of Japan’s oil purchase which was zero in March and it has reached to 118,900 bpd in April. Likewise, European oil imports from Iran dropped from 761,418 to 716,732 barrels which is due to the decrease in purchase orders of Turkey, Italy, and Spain.
Nevertheless, European refineries said that Iran’s crude oil prices are more competitive than sour oil of Iraq, Russia, and Saudi Arabia. However, given the upcoming new U.S sanctions, some refineries have bought more oil from Iraq and Saudi Arabia in June.
Your Comment