Crude oil exports from Iran to its four largest buyers in Asia fell to a three-year low last year because of the reinstatement of U.S. sanctions against Tehran in November, Reuters reports. Although the sanctions kicked in only in November, Asian importers began reducing their imports of Iranian oil earlier, with South Korea completely suspending imports in August. The average daily rate of imports for China, India, Japan, and South Korea was 1.31 million bpd in 2018, according to import data, which was 21 percent lower than the average for 2017 and the lowest since 2015 when Iran was under international sanctions. These were lifted with the signing of the so-called Iran nuclear deal, which allowed the country to rejoin the international oil market. Still, in December, China and India upped their imports of Iranian crude, while South Korea and Japan began planning for the restart of deliveries. China […]