Reuters: Iran’s oil destination in China has changed
Reuters news agency reports, based on an assessment of oil tanker tracking companies and commercial sources, that since late last year, Iranian crude oil has been flowing to the city of Dalian in northeastern China, a trend that has significantly helped maintain high levels of oil purchases from Iran.
The change in Iran’s oil destination is taking place at a time when the crisis resulting from the increase in oil prices and the decrease in profit margins for small companies has reduced the demand for Iranian crude oil from small buyers at the independent refining center in Shandong province. Since 2019, the main buyers of Iran in China.
Last winter, Reuters in an exclusive report, relying on commercial and refinery sources, reported the suspension of Iranian oil shipments to China, stating that Tehran’s aim with this move is to negotiate and receive a higher price for its crude oil exports to China.
Iran’s oil is among the targets of US sanctions that were reinstated in 2018 by Donald Trump’s decision to withdraw from the JCPOA.
