Iran’s oil exports fell for the third month in a row

Iran’s oil exports fell for the third month in a row

Iran’s oil exports entered the third month of decline: According to the Fars International Economic Group, quoted by Reuters, Iran’s oil exports to four major Asian oil customers in January 2017 increased by about 2 thirds compared to last year.

Government statistics and ship navigation show that the four major buyers of Iranian oil, China, India, South Korea and Japan, bought 1.64 million barrels of oil per day from Iran last month, which is 67.6% more than in the same period in 2016. According to the International Atomic Energy Agency. Energy, however, has been the lowest in six months, falling for the third month in a row since reaching a peak of 1.99 million barrels a day last October.

According to Iran’s industrial sources, there are discounts for buyers who increase their purchases. Reached 1,319 barrels per day.

Iran’s oil exports to India have more than tripled to 554,600 barrels per day, surpassing China for the first time since November. South Korea also bought more than twice as much oil from Iran, which reached 478,032 barrels per day. It also surpassed China and became the second largest buyer of oil in Asia. According to an industry-informed source, Iran’s total exports of oil and gas condensate to world markets, including Europe, will reach more than 2.20 million barrels per day in February. More than 2.16 million barrels per day in January. January exports are the lowest since July.

Japan is unlikely to buy oil from Iran in March as buyers wait for the government to extend insurance coverage for Iranian oil tankers in the new fiscal year, which begins in April.