WANA (Nov 29) – Oil-shipment tracking companies report that Iranian oil is remaining stored on the water, but Chinese refineries had been seeking higher import quotas—which they have now received.
Kepler analyst Amneh Becker announced on her X (Twitter) account that China’s independent refineries have finally received the additional quotas they requested several weeks ago, meaning they can import more oil in December (next month).
A few days earlier, Bloomberg, citing Kepler data, reported that the volume of Iranian oil floating at sea had reached 52 million barrels due to reduced Chinese purchases. However, once the methods for bypassing sanctions are redesigned and updated, Beijing’s purchases are expected to resume.
To store this amount of oil on the water, 25 supertankers are required.
While China’s customs statistics show that oil imports from the United States were zero in October for the fifth consecutive month, Amneh Becker says that Beijing’s move “helps reduce the large volume of sanctioned oil stored at sea.”
Iran’s oil export. Social media/ WANA News Agency
