Iran Boosts Oil Exports As Its Key Buyer China Cuts Russian Purchases

Iran’s oil exports jumped by 30 percent from last year to 870,000 barrels per day (bpd) in the first quarter of 2022, The Wall Street Journal reported on Thursday, citing data from commodity data provider Kpler, as the main Iranian crude buyer, China, is cutting back on imports of Russian oil. The jump in Iran’s oil exports in Q1 was the fastest among all producers in the Middle East, while the volume of exports is estimated to be the highest since former U.S. President Donald Trump withdrew from the so-called Iranian nuclear deal in…