Iran: India Buying Slumps

India imported just 202,000 b/d of crude from Iran in December, the lowest figure since December 2015, according to provisional import data. Japanese December data, meanwhile, confirmed a second straight month of zero buying ( MEES, 1 February ). All told, Iran’s Asian customers took a combined 705,000 b/d in December, only just up on November’s 695,000 b/d which in turn was the lowest figure since the aftermath of the 1979 Islamic Revolution (see chart, MEES, 1 February ). December’s total was supported by relatively-buoyant Chinese buying of 503,000 b/d: Korea took zero for the fourth and Taiwan for the third straight month ( MEES, 25 January ). For 2018 as a whole, Asian imports from Iran were down 280,000 b/d (17%) at 1.38mn b/d ( MEES, 1 February ). (CONTINUED - 182 WORDS)

DATA INSIDE THIS ARTICLE

chart India Crude Imports ('000 B/D, Top Six Suppliers): Iraq Cements Top Spot With 13% Rise To 956,000 B/D For 2018