Iran’s oil exports to China increase

Energy Press reported that traders familiar with the matter told Bloomberg how China’s oil imports from Iran have improved, including the use of alternative receiving terminals.
Preliminary data from energy data firm Kepler showed that imports in February reached 1.74 million barrels per day, up 86 percent from the daily rate in January and the highest level of Iranian oil imports to China since October.
China is usually the largest buyer of Iranian crude, and most Iranian oil shipments are purchased by independent and smaller Chinese refiners.
According to Bloomberg, the increase in Iranian oil imports to China comes as Scott Basnet, the Trump administration’s Treasury Secretary, said last week that the United States is looking to further restrict Iranian oil exports. He told Fox Business that China and perhaps India are buying sanctioned oil, and that this is unacceptable.