BREAKING NEWS

Asia's July Iran oil imports rise 61 pct from a year ago

By REUTERS

AUGUST 31, 2016 13:18

TOKYO- Imports of Iranian oil by four major buyers in Asia in July jumped 61.1 percent from a year earlier, marking the biggest percentage gain since April 2014, reflecting Tehran's aggressive moves to recoup market share, lost under international sanctions.

Iran is regaining market share at a faster pace than analysts had projected since sanctions were lifted in January, and Iran's senior government official said it sees its oil production at 4 million barrels per day by year-end.

The four countries, South Korea, Japan, China and India, imported 1.64 million barrels per day (bpd) in July, government and ship-tracking data showed.

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