OPEC agreed to lower its supplies by 1.2 million bpd from November 1 in an attempt to shore up prices, with top exporter Saudi Arabia expected to bear the brunt with a 380,000-bpd reduction.
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Iran Increased its Oil Shipments to Asia
Iran increased its crude oil shipments to China, Japan and South Korea to near year-ago levels
Iran increased its crude oil shipments to China, Japan and South Korea to near year-ago levels, calculations based on official data showed.
South Korea and China refineries have taken up supplies rejected earlier this year by Japan.
OPEC agreed to lower its supplies by 1.2 million bpd from November 1 in an attempt to shore up prices, with top exporter Saudi Arabia expected to bear the brunt with a 380,000-bpd reduction.
Asian imports of Iranian crude rose 8.5 percent from the third quarter to the fourth, reaching some 1.022 million bpd. Iranian officials had said their OPEC curbs would only impact European, not Asian customers.
OPEC agreed to lower its supplies by 1.2 million bpd from November 1 in an attempt to shore up prices, with top exporter Saudi Arabia expected to bear the brunt with a 380,000-bpd reduction.
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