July 19th, 2012 | Xinhua China ups Iranian crude oil imports
China’s oil imports from Iran have reached a record high, according to Petrologistics, a Geneva-based oil tanker tracker.
China is estimated to have imported 590,000 barrels of crude oil per day from Iran during the first two weeks of July, up from the average 430,000 barrels per day it received in June.
Iran’s average daily output of oil is expected to reach 1.08 million barrels in July.
The US and EU sanctions have cut Iran’s oil exports in half between February and June.