Asia`s Iran Oil Imports Hit 9-Month High in April

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Asia`s crude oil imports from the Islamic Republic of Iran jumped to the highest in nine months in April 2019.

Top buyers China. India. Japan and South Korea imported a total 1.62 million barrels per day (bpd) of crude from Iran in April. up 3.2% from the previous month to the highest since July. Reuters cited data from government and trade sources on Friday.

China`s imports in April nearly touched 800.000 bpd. a level not seen since 2014 when global powers and Iran were working on the nuclear agreement. known as JCPOA.

South Korea became the second-largest importer of Iranian oil in April after India scaled back. with Korea`s imports at about 416.000 bpd. the highest for the country since 2017. The world`s fifth-largest crude oil importer had been heavily reliant on Iranian condensate. an ultra-light oil used for petrochemical production.

Last November. the United States allowed Iran`s eight largest buyers to continue importing oil from Tehran for 180 days. but Washington announced in April that it will not extend the waivers.