Tuesday, February 21, 2012

Chinese oil imports increase even as Iranian supply contracts stall

Chinese imports from Iran are the lowest since August.  The U.S. and Europe are implementing sanctions in response to Iran's nuclear program, but it may be that China's motivation is just to squeeze better prices out of Iran, and the sanctions of other countries actually increases China's bargaining power with Iran.  In January, China paid over $110 on average her barrel of Iranian oil. 


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