China buys more and more Iranian oil

24 November 2023

In January–October, China bought 1.05 million b/d from Iran on average.
China, the world’s largest importer of crude oil and Iran’s largest customer, bought an average of 1.05 million b/d of oil from Tehran in the first 10 months of 2023 (Vortexa data).
According to various experts, oil production in Iran in October of this year could be about 3.17 million b/s. According to Vortex estimates, China’s oil imports from Iran in October reached about 1.45 million b/d, and this is the highest monthly figure in the entire history of observations.
At the same time, according to Reuters, with the exception of two shipments in December 2021 and January 2022, China’s customs has not recorded any direct oil sales from Iran since December 2020.