Iran's oil exports to China have faced a significant decline in recent months. Investigations show that the volume of Iranian oil shipments in waters near China has drastically decreased, and Iran's oil inventory in this region has reached about 20 million barrels.
Decline in China's Oil Imports from Iran
While at times the amount of oil imports from Iran by China was estimated between 1 to 1.5 million barrels per day, this figure has now dropped to less than 100,000 barrels per day in some calculations. This is a significant decrease that raises many questions about its reasons. Some sources believe that this decline may be more related to reduced supply and a change in Iran's oil sales pattern rather than a drop in China's demand.
Read more: Economic policymakers must determine the priority for currency allocation
Impact of Ramadan War on Oil Exports
The figures for Iran's oil exports to China have been calculated based on previous oil sales models before the Ramadan War. Given the changes in transfer routes, supply methods, and the arrangement of Iran's oil sales after the war, due to the complete uncertainty of this "war arrangement", it is not possible to extract an accurate figure for exports. This uncertainty in the oil market and major changes in trade patterns have posed serious challenges to Iran's oil exports to China.
Government Oil Revenues and Forecasts
On the other hand, government oil revenues indicate that more than 100% of the projected resources in the 1405 budget have been realized in the first half of the year. This suggests that although oil exports to China have decreased, the government has been able to utilize other revenue sources to achieve its goals. This point can be seen as a strength for Iran's economy in the current sanctions conditions.
Overall, the status of Iran's oil exports to China reflects new challenges that the country faces internationally. While China's demand may be declining, changes in the sales and supply pattern of Iran's oil also play a significant role in this decrease. These developments could have profound implications for the oil market and Iran's economy in the near future.
Read more: Mexico and Canada, the most dependent countries on the U.S. market · Donald Trump rejected Iran's seven-day proposal to reopen the Strait of Hormuz
