SHANGHAI—Iran expects its crude-oil exports to China will stabilize despite political pressure from the U.S. and a drop in shipments so far this year, an executive at Iran’s state oil company said. China’s October crude imports from Iran fell 42% to 1.06 million metric tons, or about 250,000 barrels a day, from the same period a year earlier, Chinese customs data showed Thursday. The steep drop in October brings China’s Iranian crude imports to 17.1 million tons in the January to October period, down 3% from the same period last year. The drop makes it increasingly likely that Washington and Beijing will avoid a clash over imports from Iran. However, the decline may be only temporary, said Maziar Hojjati, managing director of the China office of National Iranian Oil Co. He expects imports will recover in December and end the year almost unchanged compared with last year. “There were […]