https://sputnikglobe.com/20250628/crude-confidence-china-doubles-down-on-iranian-oil-while-west-talks-pressure-1122355169.html
Crude Confidence: China Doubles Down on Iranian Oil While West Talks ‘Pressure’
Crude Confidence: China Doubles Down on Iranian Oil While West Talks ‘Pressure’
Sputnik International
China imported a record high of over 1.8 million barrels per day (bpd) of Iranian oil between June 1 and 20, according to ship-tracking firm Vortexa.
2025-06-28T13:04+0000
2025-06-28T13:04+0000
2025-06-28T13:04+0000
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Iran is consistently proving it doesn't need Western markets to keep its economy afloat. China imported a record high of over 1.8 million barrels per day (bpd) of Iranian oil between June 1 and 20, according to ship-tracking firm Vortexa. Kpler pegged the monthly average (as of June 27) at 1.46 million bpd, a steep jump from one million bpd in May. What's Driving the Surge? Iranian authorities have on multiple occasions stated that they reserve the right to close the Strait of Hormuz in response to attacks by Israel. Closure of the world's busiest and most important oil transit chokepoint would significantly affect oil production and cause an "oil shock" in the region, Yemeni Ambassador to Egypt Khaled Mahfouz Bahah told Sputnik earlier.
https://sputnikglobe.com/20250624/blockage-of-hormuz-strait-to-cause-global-oil-shock-yemeni-ambassador-to-egypt-1122332312.html
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china buys record amount of iran oil, who is buying iran oil,
china buys record amount of iran oil, who is buying iran oil,
Crude Confidence: China Doubles Down on Iranian Oil While West Talks ‘Pressure’
China remains Iran’s top oil customer by a landslide — nearly 90% of Tehran’s crude and condensate exports still head east, according to a May report from the US Energy Information Administration.
Iran is consistently proving it doesn't need Western markets to keep its economy afloat.
China imported a record high of over 1.8 million barrels per day (bpd) of Iranian oil between June 1 and 20, according to ship-tracking firm Vortexa.
Kpler pegged the monthly average (as of June 27) at 1.46 million bpd, a steep jump from one million bpd in May.
What's Driving the Surge?
Refinery demand: China's independent refineries are ramping up processing, and Iranian oil fits the bill.
Floating storage unlocked: Iran has tapped into offshore oil reserves, pushing May’s exports to a multi-year high of 1.83 million bpd.
Strategic pricing: Iran narrowed discounts to just $2 per barrel below Brent, down from previous discounts of $3.30-$3.50 – signaling confidence and rising demand.
Geopolitics: The
Strait of Hormuz, through which one-fifth of global oil flows, gives Iran outsized influence Fears of disruption at this chokepoint recently caused price volatility Both Vortexa and Kpler expect elevated imports to continue – evidence of a long-term trend, not a blip.
Iranian authorities have on multiple occasions stated that they reserve the right to close the Strait of Hormuz in response to attacks by Israel.
Closure of the world's busiest and most important oil transit chokepoint would significantly affect oil production and
cause an "oil shock" in the region, Yemeni Ambassador to Egypt Khaled Mahfouz Bahah told Sputnik earlier.
