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Asia's imports of Iranian crude fall to 2-year low in October

Oil

Asian imports of Iranian crude oil in October fell by 74K b/d y-o-y to 803K b/d, Reuters reports citing government and tanker tracking data. Shipments to China were relatively unchanged y-o-y at 338K b/d. However, India's imports fell by 129K b/d (41.5%) from October 2014 levels to 181K b/d. Japan's imports slipped by 10K b/d y-o-y to 163K b/d. South Korea was the only major Asian importer to see a rise in volumes, with its crude imports from Iran almost doubling to 131K b/d. Over the first 10 months of 2015, Asia's imports of Iranian crude have declined by 70K b/d y-o-y to 1.04M b/d.