Asia's monthly Iran oil imports drop to lowest in Nov since April 2016 - RTRS

Reuters quoted a person with knowledge of Iran’s tanker schedules, citing that the imports of Iranian crude oil by major buyers in Asia tumbled 29% in November on an annualized basis to the lowest volumes since April 2016.

Key Details via Reuters:

“In total, China, India, Japan and South Korea imported 1.36 million barrels per day (bpd) last month from Iran.

The slowdown had been expected, as oil loadings bound for Asia fell below 1.5 million bpd in October.

China, the biggest buyer, purchased 8.8 percent less oil from Iran year-on-year, taking around 557,900 bpd.

Meanwhile, India’s refiners cut Iranian oil imports by more than half in November.

Imports to Japan were down 19 percent from a year earlier to 193,141 barrels per day.”