Iran exports 308,000 barrels of oil to Japan per day

Oil&Gas Materials 3 July 2016 13:27 (UTC +04:00)

Baku, Azerbaijan, July 3

By Khalid Kazimov – Trend

Iran has exported 308,000 barrels of crude per day to Japan over the month of May.

While Japan has increased its crude import from the Middle East, Iran is among the four major oil exporters to the Asian country, IRNA news agency reported.

According to the report, Japan imported 87 percent of its required crude from the Middle East in May, indicating 2.6 percent growth year-on-year.

Saudi Arabia which exports 1.13 million barrels of oil to Japan per day is the Asian country’s largest oil supplier.

The UAE, Qatar and Iran are the other large oil exporters to Japan.

Western sanctions on Iran were eliminated on January 2016, and that led to sudden resumption of the country's oil output and export levels.

According to the International Energy Agency, Iran exported 2.1 million barrels of oil per day (mb/d) in May. The figure doubled, compared to the sanctions era, but it is still 0.1 mb/d less than the pre-sanctions level.