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Iran Ramps Up Oil Exports as China Pulls Back on Russian Crude
(Wall Street Journal) Benoit Faucon - Iran is ramping up oil exports and benefiting from a rise in oil prices as its main buyer, China, pulls back on its purchases of Russian oil due to the war with Ukraine. Iran oil exports - which go almost exclusively to China - rose to 870,000 barrels a day in the first three months of 2022, up 30% from an average of 668,000 barrels a day in 2021, said commodities data provider Kpler. An Iranian official said oil shipments were higher and reached 1.2 million barrels a day, with an additional 300,000 barrels a day delivered to China through third-party countries.