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China’s Iran oil imports to rebound in December as buyers use U.S. waivers

“By December, China’s Iran oil imports could reach almost 3 million tonnes, the Eikon data showed” reports businessinsider.com. Sinopec and CNPC will likely use up the 360,000 bpd of Iranian oil imports allowed to China under the waiver.Other major Iranian oil buyers, including India, South Korea and Japan, are also increasing or resuming orders.The rise in Iranian oil supply and surging production from the United States, Russia and OPEC countries has pulled down crude oil prices by almost a third since October.
 
Source: businessinsider.com



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