Iran’s Dec oil exports down to Asia, up to Europe
Iran’s crude exports to Asia in December so far reportedly fell from 2.04 million barrels/year in November to 1.88 million barrels/year, signaling that the country is having difficulties with rebalancing production after the sanctions were lifted this year. The amount equals a decrease of 17% from November levels.
According to the data, crude oil exports to China decreased by 28% month on month, to the lowest since October 2015. The exports to Japan were also down by 1.6% from a month earlier while exports to South Korea were half of the November levels with 60,000 barrels/year.
Meanwhile, the only country to which exports increased was India, with a growth of 12% from November, the data showed.
However, Iran’s crude oil exports were still up by 81% on a yearly basis on the back of the rise in exports to Europe.
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