Iran’s oil exports have broken a five-year record

The main buyers of Iranian oil are China, Syria and Venezuela.

Oil supplies from Iran in June and May averaged about 1.6 million barrels per day, which is more than twice the level of a year ago and is the highest since 2018. This is reported by The Wall Street Journal.

China has become the main importer. So, in May 2023 Beijing directly imported 359 thousand barrels/day of Iranian oil, which is almost 100 thousand barrels more than in May 2022. At the same time, industry sources note that the actual volumes of oil exports from Iran to China are probably much higher since official statistics do not take into account the transit of oil through other Asian and Middle Eastern countries.