Publishe Date: 12:24 PM - 7/1/2015 | Print

Japan rises oil imports from Iran

Economy - Japan's imports of Iranian oil increased by five percent in May in comparison to the same month last year, according to Japanese Ministry of Economy, Trade and Industry.

In a recent report, the Japanese Ministry of Economy, Trade and Industry put Iran's oil exports to Japan in May at 190,924 barrels per day (bpd).

Based on the reports by Japanese and Chinese media, Iran has stored more than 30 million barrels of oil in its tankers and it is most likely that oil buyers, particularly Asian countries, will increase their oil imports from Iran during the current year.

Statistics also show that China, India, Japan and South Korea altogether imported an average 1.205 million bpd of Iranian oil in May which is the highest figure since last December.

Also, Iranian oil exports to India and South Korea in May show 66 and 90 percent growth respectively, statistics suggest.

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