*Iran’s crude customers imported a record low of just 418,000 b/d in May. Of the five countries to have continued importing since the US imposed sanctions last November, only China and India took volumes last month.
*China remained top importer, as it has been for each of the last seven months. But freshly-released China customs data for May (MEES, 28 June) showed imports of just 253,000 b/d, less than a third of the bumper 787,000 b/d seen in April as Chinese refiners rushed to load cut-price cargoes before the 2 May expiry of ‘waivers’ from US sanctions. China’s official import data excludes bonded storage leased by Iran in China’s northern port of Dalian. (CONTINUED - 500 WORDS)