Chinese oil imports from Iran are on course to rebound this month from the lows of October and November as China’s state-held companies have already started to use the U.S. waivers to continue importing Iranian oil at reduced volumes, Reuters reported on Friday, quoting industry sources and shipping data. Together with the sanctions on Iran’s oil industry, the U.S. issued waivers to eight Iranian oil customers—including the biggest buyer China—to continue oil imports from Tehran until at least early May 2019. According to Reuters, under the waiver, China is allowed to purchase 360,000 bpd of Iranian oil for 180 days after November 5. China and Asia’s biggest refiner Sinopec resumed buying oil from Iran shortly after the U.S. waivers were granted, sources with knowledge of the operations told Reuters. State energy giant China National Petroleum Corporation (CNPC)—which has invested billions of U.S. dollars in Iran’s oil industry in recent […]