Iran’s oil exports will greatly depend on how China will proceed with its crude oil imports from the Islamic Republic, if at all, after the U.S. removed all sanction waivers for Iranian oil customers, IHS Markit said in an analysis on Tuesday. Despite the U.S. push to drive Iranian oil exports to zero, China is not expected to totally cut off its crude imports from Iran, according to Fotios Katsoulas, Liquid Bulk Principal Analyst, Maritime & Trade at IHS Markit. Still, Chinese oil imports from Iran will likely be very low for a long period of time going forward, Katsoulas said. China’s total crude oil imports dropped in May from a monthly record in April, as Chinese refiners drastically reduced Iranian oil imports after the end of the U.S. waivers and as some state refineries were offline for planned maintenance. Seng Yick Tee, an analyst with Beijing-based consultancy SIA […]