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Iran Will Raise Crude Shipments to China ‘Soon,’ Mehr Says

Iran will increase the volume of oil it ships to China “soon,” state-run Mehr news agency reported, citing an an unidentified official at National Iranian Oil Co.

China and Iran agreed on pricing and sales methods for the oil contract, Mehr reported, without giving further details. A NIOC official at the company’s Singapore crude marketing office, who asked not to be identified in line with company policy, declined to comment on the report.