Iran’s Crude Exports Rise as China Port Blockages Ease, IEA Says

Iran exported 66 percent more crude oil in May than in April, helped by an increase in purchases by China after congestion eased at the Asian nation’s ports, the International Energy Agency said.

Imports of Iranian crude reported by consumers rose to the “relatively high” level of 1.39 million barrels a day from 835,000 barrels a day in April, the IEA said in its monthly oil report today. China imported 715,000 barrels a day of Iranian crude last month, almost double the 370,000 barrels it received in April when port congestion delayed deliveries and pushed off cargoes until May, the Paris-based agency said. China accounted for 51 percent of Iran’s exports in May, according to a Bloomberg News calculation based on IEA numbers for the month.