Asia’s Imports Of Iranian Oil Fall M-o-M In January

Oil

Imports of Iranian oil by China, India, Japan and South Korea in January fell by 248K b/d m-o-m to a 6-month low of 1.6M b/d, Reuters reports. This was driven by a 287K b/d decrease in China’s imports to a 15-month low of 403K b/d. However, despite the m-o-m decline, in y-o-y terms combined imports from the four were up by 663K b/d as a result of higher demand from India (+384K b/d) and South Korea (+269K b/d).