They said: ‘very soon they hope to resume oil supplies.’ We said: ‘Inshallah’,” said one source at an Indian refiner. CHINAUnlike India, China never completely halted Iranian oil imports. Tankers carrying Iranian oil typically switch off their transponders when loading to avoid detection, but then become traceable via satellites near ports in Oman, the UAE and Iraq. Chinese customs data showed on Sunday that crude imports rose four percent annually in the first two months of this year. The record imports have weighed on prices for competing medium and heavy grades from other Middle East producers, traders said.

Source: Egypt Independent March 08, 2021 08:03 UTC