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المشهد العربي
Chinese independents to boost Iranian oil imports
Chinese independent refining companies expect to increase their oil imports from Iran in the coming period, due to a decline in their regional inventories in Shandong Province, which is their largest. Their stocks there dropped by 35 million barrels, reaching 360 million barrels in July, the lowest level in eight months. On the other hand, China's total oil inventories remain high, currently around 1.208 billion barrels as of August. These refineries are among the biggest buyers of Iranian oil, but they have started reducing their imports and instead are drawing down their inventories, responding to official directives to ramp up fuel production amid escalating tensions in the Middle East.
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