Imports of Iranian oil by four major buyers in Asia in July jumped 61.1 percent from a year earlier, marking the biggest
percentage gain since April 2014, reflecting Tehran’s aggressive moves to recoup market share, lost under international sanctions.
Iran is regaining market share at a faster pace than analysts had projected since sanctions were lifted in January, and Iran’s senior government official said it sees its oil production at 4 million barrels per day by year-end.
The four countries, South Korea, Japan, China and India, imported 1.64 million barrels per day (bpd) in July, government and ship-tracking data showed.
Japan’s trade ministry on Wednesday released official data showing its imports jumped 61.8 percent from a year earlier to 256,651 bpd last month.
Imports by South Korea jumped more than fourfold last month, while India’s imports more than doubled from a year ago.
The following tables show Asia’s Iran crude imports in bpd for last month and the year to date.
Nation Jul-16 Jul-15 yr/yr pct China 566,191 575,700 -1.7 India 523,100 215,400 142.8 Japan 256,651 158,608 61.8 Korea 291,097 66,710 336.4 Total 1,637,039 1,016,418 61.1 Nation Jan-July 2016 Jan-July 2015 yr/yr pct China 595,598 587,400 1.4 India 368,300 215,300 71.0 Japan 213,261 170,727 24.9 Korea 268,667 111,665 140.6 Total 1,445,826 1,085,092 33.2
Source: ReutersPrevious Next