Iranian Oil-at-Sea Volumes Grow but Struggle to Find Buyers
The volume of Iranian oil in vessels at sea is increasing after Tehran sought to push up exports while an interim peace deal held with the US, Now the restoration of US sanctions, that had been temporarily waived, could leave Iran with more cargoes without buyers right when the shipments are reaching Asia, the article said. Chinese independent refiners, referred to as 'teapots', had bought 16 million to 20.5 million barrels from Qatar, Iraq and the UAE, according to traders, in their largest purchases since the Iran war began. Independent refiners in Shandong buy most of the Iranian crude imported to China while state-owned refineries have shunned the oil since sanctions were imposed on Iran in 2018, the article said.
The volume of Iranian oil in vessels at sea is increasing after Tehran sought to push up exports while an interim peace deal held with the US, Now the restoration of US sanctions, that had been temporarily waived, could leave Iran with more cargoes without buyers right when the shipments are reaching Asia, the article said.
Chinese independent refiners, referred to as 'teapots', had bought 16 million to 20.5 million barrels from Qatar, Iraq and the UAE, according to traders, in their largest purchases since the Iran war began.
Independent refiners in Shandong buy most of the Iranian crude imported to China while state-owned refineries have shunned the oil since sanctions were imposed on Iran in 2018, the article said.