China Ramps Up Oil Imports From Iran

China appears to be becoming a major importer of Iranian oil, as Iran’s production levels look set to soar thanks to better relations with Biden’s U.S.  Over the last year, China imported an average of 306,000 bpd of crude oil from Iran, totalling 17.8 million tonnes. Most of these imports, 75 percent, came indirectly via Malaysia, Oman, or the United Arab Emirates.  As demand increases, this March, Chinese imports of Iranian oil are expected to reach levels of 856,000 bpd, an increase of 129 percent on February. The sudden…