Chinese Oil Imports Set To Bounce Back This Month

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The big oil companies in China, like China National Petroleum Corporation (CNPC), are set to start importing more oil again from Iran.

With the use of the new US waivers they are now continuing to import oil in smaller amounts yet at consistent rate.

CNPC will likely load at least 2 million barrels per month starting this month, which would be double its previous loadings from its Iranian production—a means to compensate for the reduced lifting before the sanction waivers, according to the oil executive.

Despite the continued trade China will still be importing less than half the amount of oil in coming months.

1 COMMENT

  1. if imports are up in China will there be an increase in oil prices again? I thought oil was a sure thing but the oil stocks and prices per barrel are way down, too far

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