Shafaq News- Beijing/ Baghdad
China’s imports of Iraqi crude oil fell sharply in May to 60,000 barrelsper day (bpd), down from 790,000 bpd in February, Reuters reported on Monday.
Overall, China’s seaborne crude imports fell to 6.36 million bpd thismonth, the lowest level in nearly a decade, compared with 8.10 million bpd inApril. The decline came as Chinese buyers scaled back purchases amid risingprices following escalating tensions in the Middle East, as well as supplydisruptions linked to delayed shipments from several producers, including Iraqand Kuwait.
The Strait of Hormuz, a strategic waterway through which about 20% ofglobal oil and liquefied natural gas supplies transit, has remained largelyrestricted since Feb. 28 after the US–Israel war on Iran, disrupting energyflows and limiting shipments across the region.
Iraq, OPEC’s second-largest oil producer, recorded no crude oilshipments to the United States last week, while its crude exports to India fellby around 84%.
