Iranian Exports to Asia Hit 6 Month High

Wednesday, 1st November 2017
by Editorial Team

Umm Qasr, IRAQ: A ship is connected to the Basra Oil Terminal twelve nautical miles off the Iraqi coast in the waters of the Northern Arabian Gulf close to the port town of Umm Qasr 08 August 2006. The terminal is the main source of Iraq’s revenues, a key supplier to the global energy market and an obvious target for insurgents aiming to thwart the country’s economic recovery. AFP PHOTO/POOL/THAIER AL-SUDANI (Photo credit should read THAIER AL-SUDANI/AFP/Getty Images)

Iranian exports to China, South Korea, India, and Japan climbed 20% in September, compared to August, to reach 1.9 million barrels per day (b/d), Reuters reports.

The figure represents a 5.1% year-on-year (y.o.y.) increase from September 2016, according to the news agency.

Exports to Japan and India fell, but were more than offset by rising demand from China and South Korea.

Crude exports to China, while lower than in August, rose almost 60% y.

o.y to hit 784,000 b/d. Following China, South Korea imported 504,000 b/d, India 415,400 b/d, and Japan approximately 216,000 b/d, according to Reuters.

Iran’s total exports in September were 2.28 million b/d, according to data compiled by Bloomberg.