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China Discloses Iranian Oil Imports as Nuclear Talks Drag On

  • Official purchases are first in a year as crude prices advance
  • Kpler estimates flows from Iran, Venezuela expanded last year
Updated on

China disclosed its first Iranian oil imports in a year amid talks between between Tehran and world powers aimed at reviving a nuclear accord that could pave the way for lifting U.S. sanctions.

A total of 260,312 tons, or 1.9 million barrels, arrived in December, according to customs data on Thursday. That’s the first time the Chinese central government has reported any purchases from the fifth-largest producer in the Organization of the Petroleum Exporting Countries since December 2020.