Imports of Iranian oil by four major buyers in Asia in May jumped 34.5 percent from a year ago to the highest in at least 4-1/2 years, reflecting Tehran’s aggressive moves to recoup market share lost under international sanctions.
The four countries, South Korea, Japan, China and India, imported 1.62 million barrels per day (bpd) in May, government and ship-tracking data showed.
Japan’s trade ministry on Thursday released official data showing imports of 307,691 bpd from Iran in May, the highest since January 2012, before sanctions kicked in.
The following tables show Asia’s Iran crude imports in bpd for last month and the year to date.
Country May-16 May-15 yr/yr pct
China 619,300 518,400 19.5
India 379,200 368,000 3.0
Japan 307,691 190,924 61.2
Korea 316,839 129,000 145.6
Total 1,623,030 1,206,324 34.5
Country Jan-May 2016 Jan-May 2015 yr/yr pct
China 565,167 573,100 -1.4
India 334,100 203,100 64.5
Japan 192,181 188,649 1.9
Korea 261,743 119,417 119.2
Total 1,353,191 1,084,266 24.8