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Asian imports of Iran oil fall slightly in July

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Asian imports of Iranian oil fell slightly from a year ago in July, after a landmark agreement on Tehran’s disputed nuclear programme that may pave the way for an increase in crude exports as early as next year.

Imports by Iran’s four biggest buyers – China, India, Japan and South Korea – totalled just over 1 million barrels per day (bpd) last month, 1.3 percent lower than a year earlier, government and tanker-tracking data showed.

Tehran is eager to recover market share which lost under U.S. and European Union sanctions. The sanctions were designed to keep its exports at around 1 million bpd, to get Tehran to negotiate on their disputed nuclear programme.