Iran Exports Stay Strong In October

• Key buyers of Iranian oil continue to purchase significant quantities. After dipping slightly in September, imports of Iranian oil appear to have rebounded in October and early indicators are that volumes are remaining high in November, albeit down around 5%. NIOC head Ali Kardor puts current exports at above 2.44mn b/d.

• Chinese purchases fell to 491,000 b/d in September, their second lowest of the year. Following as it does from a near-record 744,000 b/d in August, this could just be due to irregular loading dates. But Iran does face significant competition, with China nearly doubling its takings from Iraq to 991,000 b/d. It also significantly upped its takings from Angola and Brazil. (CONTINUED - 145 WORDS)