Iranian crude exports to Asia rose in August for the second month in a row but remained well below export levels for August 2016, Reuters reports.
Greater demand from China and South Korea drove the uptick in August, according to the news agency.
While Chinese imports of Iranian crude rose to 786,720 barrels per day in August, a 5.5% year-on-year (Y-o-Y) increase, Iranian exports to China, India, Japan, and South Korea fell 10.8% Y-o-Y, according to Zawya.
Iran currently exports approximately 2.6 million b/d of crude and condensates, Zawya reports. According to Reuters’ figures, Iran exported over 1.6 million b/d of crude to Asia in August.