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China Boosts Iranian Oil Imports Amid New Quotas

12/4/2025

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Summary

Story summary

China increased its imports of Iranian oil after new quotas allowed private refiners to import crude.
Bloomberg reports intake rose after a 7–8 million metric ton allocation for nearly 20 plants.
Two supertankers unloaded in Shandong, including a vessel carrying 2 million barrels of Iranian oil.
Since 2019, China has been the largest buyer despite U.S. sanctions, though T-pots may remain weak due to margins.

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Story summary

China increased its imports of Iranian oil after new quotas allowed private refiners to import crude.
Bloomberg reports intake rose after a 7–8 million metric ton allocation for nearly 20 plants.
Two supertankers unloaded in Shandong, including a vessel carrying 2 million barrels of Iranian oil.
Since 2019, China has been the largest buyer despite U.S. sanctions, though T-pots may remain weak due to margins.