This report indicates that claims that Russia has taken Iran’s share of the oil market by giving discounts to China are incorrect.
Iran has increased its oil exports because the country has become stronger geopolitically, the report said, adding that most of its shipments go to China.
The institute put the average oil exported from Iran to China in the first seven months of the current year (January-July) at 917,000 bpd, indicating the highest figure in Kepler chart since 2013.