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A Surge in Iranian Oil Exports Is Clogging Up Chinese Ports

  • Volumes of Iran-origin crude to China up sharply: Kpler
  • Most other nations wary of Iranian oil due to U.S. sanctions
An oil tanker loaded with imported crude oil at Qingdao Port on Feb. 9.
An oil tanker loaded with imported crude oil at Qingdao Port on Feb. 9.

Photographer: Yu Fangping/VCG/Getty Images

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China is gorging on sanctioned Iranian oil -- with imports forecast to more than double this month from February -- as other countries hold off purchases for fear of incurring the wrath of the U.S.

Iranian shipments to the province of Shandong, home to a quarter of China’s refining capacity, have surged so much this month they’re causing congestion at ports and filling up storage tanks, traders and analysts said.