Iran’s Oil Gushes Into Global Market as China Imports Surge
- Tanker tracking firms say Iran oil exports surged late 2023
- Much of the crude appears to be going to China via Malaysia
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Iran’s oil exports are surging, offering solace to both Tehran and a global market fretting over the prospect of sanctions squeezing Russian supply. Much of it appears to be finding its way to China.
The Persian Gulf country’s oil exports climbed to about 1.3 million barrels a day in November, and last month held near the highest in four years, according to data from Vortexa Ltd. and Kpler, two well-known shipping analytics firms.