Iran doubled its oil exports to Asia in November

Almaty. December 29. Silkroadnews – In November Iran’s crude export to China, India, South Korea and Japan made 1.94 million barrels of oil per day, which is 117% higher compared to the previous year, IrTAG wries.

In particular, deliveries to India and South Korea have increased four times. Data shows, in November Iran’s oil exports to China grew by 24.5% up to 611 thousand barrels, to India – by 350% up to 620 thousand barrels per day, to Japan – by 41.2% up to 237, 6 thousand barrels per day, to Korea – by 385% up to 472 thousand barrels.

It is noted, Iran gave its Asian customers special crude prices. Thus, according to the Japanese Ministry of Finance, in November Japan bought Iranian oil at an average price of $45.46 per barrel. It was the lowest price not to take in account the oil from Oman and Mexico.

The December oil exports volume was expected to be 8% below the November level.

Iran is the third largest oil producer among the OPEC states. Under the OPEC deal in 2017 Iran can raise the production volumes by 90 thousand barrels per day.