Iran supplies 10% of China’s oil demand

Business Materials 19 December 2016 11:24 (UTC +04:00)

Baku, Azerbaijan, Dec. 19

By Fatih Karimov – Trend:

Iran exported 777,000 barrels of crude oil per day to China in October, indicating an increase by 437,000 barrels per day year-on-year, the oil ministry’s SHANA news agency reported.

The figure is equal to 10 percent of the Asian country’s total crude oil import.

According to Reuters, Iran exported 618,686 b/d of oil to China during January-October 2016, about 15.4 percent more than the same period in 2015.

Iran stood at fourth place among the crude suppliers to China in October after Russia (1.121 million barrels per day), Saudi Arabia (940,000 bpd) and Iraq (879,000 bpd).

Iran has increased oil output by 5,700 bpd to 3.703 mbpd in November month-to-month, OPEC estimated in its latest monthly report, released Dec.14.

The country’s crude oil export currently stands at over 2.44 million barrels per day.