🔺 China cut its purchases of Iranian oil to the lowest level in 17 months

🔺 China cut its purchases of Iranian oil to the lowest level in 17 months

▪ Chinese refineries have reduced their purchases of Iranian oil and are more inclined to buy oil from other Persian Gulf countries.

▪ Citing informed sources, the specialized outlet Platts reported that Iran has offered a $2 to $3 discount on its light oil for Chinese customers, but they are more willing to buy oil from other Middle East exporters with a $7 to $8 discount.

▪ According to this report, Iran delivered 888,000 barrels of oil per day to Chinese refineries last month, the lowest level in the past 17 months.

▪ However, according to an assessment by Kpler, provided to VOA, Iran unloaded an average of 654,000 barrels of oil per day at Chinese ports last month.