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Asian imports of Iranian oil rise 27 pct yr/yr in March
April 28, 2017 / 6:10 AM / 8 months ago

Asian imports of Iranian oil rise 27 pct yr/yr in March

    * Asian buyers take nearly 2 mln bpd of Iran oil in March
    * Imports down slightly on February
    * Quarterly imports rise by nearly half

    By Aaron Sheldrick
    TOKYO, April 28 (Reuters) - Imports of Iranian crude by its
four main buyers in Asia rose nearly 27 percent in March from a
year earlier as the country took advantage of its exemption from
a production cut agreed by OPEC and some other major producers.
    Iran's top four Asian buyers - China, India, South Korea and
Japan - imported 1.97 million barrels per day (bpd) last month,
government and ship-tracking data showed This is marginally
below February, when Iran sold the highest volumes overseas
since at least 2010, International Energy Agency data showed.
    In the first quarter, these four countries imported 1.87
million bpd, a 47 percent rise from the same period in 2016.
    Iran was exempted from a deal between the Organization of
the Petroleum Exporting Countries and other producers, including
Russia, to reduce output by 1.2 million bpd from Jan. 1.
    It was a victory for Tehran which had argued it needs to
regain the market share it lost under Western sanctions over its
disputed nuclear programme.
    Japan's trade ministry on Friday released official data,
showing Iranian imports were at 224,604 bpd last month, up 13
percent from a year earlier and slightly down from the previous
month. 
    
    The following tables show Asia's Iran crude imports in bpd
for last month and the year to date.
    
 Nation              Mar-17        Mar-16   yr/yr pct
 China              626,185       590,830         6.0
 India              525,700       506,100         3.9
 Japan              224,604       198,355        13.2
 South Korea        597,935       264,452       126.1
 Total            1,974,424     1,559,737        26.6
 Nation        Jan-Mar 2017  Jan-Mar 2016   yr/yr pct
 China              559,081       511,757         9.3
 India              573,400       299,300        91.6
 Japan              221,110       209,871         5.4
 Korea              519,222       251,088       106.8
 Total            1,872,813     1,272,016        47.2
 
    
    

    
 (Reporting by Aaron Sheldrick; Editing by Vyas Mohan)
  

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