China's Refiners Cut Iranian Crude Imports as U.S. Blockade Tightens

Source Summary

China imported approximately 534,000 barrels per day of Iranian crude oil in August, down from an estimated 823,000 barrels per day in July, according to preliminary data from Kpler cited by Reuters. The decline follows the reinstatement of a U.S. blockade on Iranian oil exports in mid-July, which is restricting new crude supply from Iran to its largest customer.