Data shows rise in Iran crude export in January

Data shows that the combined imports of Iranian crude oil by four major Asian buyers increased by 22 percent in January compared to the same period last year.

According to government and industry data, China, India, Japan and South Korea together bought an average of 1.25 million bpd last month, while they had bought 1.03 million bpd in January 2013, Reuters reported.

The four countries are among the main importers of Iran’s crude exports, which they need to meet their energy demands.

Data released by Japan’s Trade Ministry on Friday shows that the country purchased 210,517 bpd from Iran last month, compared with 239,085 bpd in January 2013.

China purchased 564,536 bpd of the crude last month, which is up 82 percent from January a year ago.

India’s imports from Iran also more than doubled last month from December and reached the highest since February 2012. India’s oil purchase from Iran rose to 412,000 bpd in January 2014, up from 189,100 bpd in December and 44 percent higher than 2013.

Meanwhile, South Korea imported about 65,000 bpd in January, which is a third of what the South Asian country purchased a year earlier.