Spain imported a record 796,000 b/d from Opec countries in 2018. Nigeria was number one with 209,000 b/d. Saudi Arabia was number three with 150,000 b/d, a five-year high whilst number four Libya, where Repsol is a key producer (MEES, 15 February), took 31% more at 144,000 b/d, a 14-year high. Opec volumes hit a quarterly record of 823,000 b/d in Q4.

Despite zero buying for the last two months of 2018, Iranian volumes, at 97,000 b/d, were their highest since 2011. Those from Iraq were also up at 94,000 b/d, boosting overall Gulf volumes to a 7-year high of 342,000 b/d (see MEES, 15 February for chart and full data). (CONTINUED - 147 WORDS)