Iran ships 2.1m bpd of oil to global markets in March

Iran’s oil customers in Asia and Europe shipped in 2.1 million barrels per day (bpd) of Iranian crude during March, IRNA reported on Monday citing the oil ministry.

China and India were top importers of Iranian crude oil in the mentioned period importing over one million bpd together. The oil ministry expects the imports by these two buyers to reach 1.3 million bpd in April cementing their places as the two top buyers of Iranian crude.

Total, Shell, Eni, Hellenic Petroleum and Saras were also among the European customers of Iranian oil.

Iran exported 400,000 barrels of gas condensate on a daily basis in March, half of which was shipped in by South Korea making it the top buyer of condensate from the country.

According to Iran’s oil ministry, the country’s average oil exports have increased by about 60,000 bpd in 2018 compared to the last year.

The country exported 2.13 million bpd of crude in last year, 62 percent of which was shipped to Asian markets and the rest was received by European buyers.

During 2017, Iran also exported 180 million barrels of gas condensate, something about 490,000 bpd.

The average price for Iranian crude oil and condensate stood at near $52 per barrel in 2017.

Source: tehrantimes