Iranian oil arrivals increased by 233,000 bpd from October to 1.35 million bpd in November, the highest level since August, according to Kpler.
“This was partly due to Iran’s high export volumes in previous months, and partly because buyers likely anticipated early allocation of November crude quotas, prompting them to lock in supplies ahead of time,” said Muyu Xu, senior analyst at Kpler.
Russian seaborne crude oil arrivals fell by 157,000 bpd month-on-month to 1.19 million bpd in November, likely related to reduced procurement by state-owned refiners and the fact that earlier independent refineries had tight quotas, Xu added.
(Reporting by Sam Li and Lewis Jackson; Editing by Jamie Freed)