{"id":10956,"date":"2024-06-07T09:55:25","date_gmt":"2024-06-07T09:55:25","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=10956"},"modified":"2024-06-07T09:55:25","modified_gmt":"2024-06-07T09:55:25","slug":"china-imports-of-iran-oil-up-in-may-on-better-refining-margins","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/10956\/","title":{"rendered":"China Imports of Iran Oil Up in May on Better Refining Margins"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0China\u2019s imports of Iranian crude in May surged to the highest level in seven months after a recovery in refining margins.<\/p>\n

The Asian nation imported 1.54 million barrels a day of Iranian oil last month, the most since October, according to data from Kpler. Over half went to buyers in Qingdao where many independent refiners are clustered.<\/p>\n

China\u2019s independent refiners \u2014 known as teapots \u2014 have struggled with weak margins for making fuels this year that\u2019s led to companies cutting operational rates. The processors account for a quarter of the nation\u2019s total refining capacity and are typically big producers of diesel.<\/p>\n

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China imported 1.54 million barrels a day of Iranian oil last month.<\/p>\n<\/div>\n<\/div>\n

The profit from converting crude into diesel and gasoline\u00a0\u2014\u00a0or the crack spread\u00a0\u2014\u00a0has recovered since early April and are near the highest seasonal level in 10 years, according to a\u00a0note\u00a0from Mysteel OilChem dated June 6.<\/p>\n

Updated on