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China imports record volumes of Iranian crude
China imported a record 1.34mn b/d of Iranian crude in May, a third higher than the previous month, according to Argus analysis of Chinese customs data. China has long been a major buyer of Iranian crude and has taken almost all of Tehran's exports since Washington's unilateral exit from the Iran nuclear deal led to US sanctions being reimposed on Iran's key energy and banking sectors in 2018. May's figures appear to corroborate vessel tracking data showing a marked rise in Iranian crude exports in recent weeks and months. Oil analytics firm Vortexa put Iran's total crude loadings at 1.33mn b/d in May, up from 1.05mn ... (full story)