China’s Teapots Buy Iranian Oil to Replace Venezuelan Supply, Sources Say

A view of refinery No. 2 (Phases 2, 3) of the​ South Pars Gas-Condensate field in Asalouyeh Seaport, north of the Persian​ Gulf in Iran. Photo by SAEID ARABZADEH / MIDDLE EAST IMAGES VIA AFP

By Siyi Liu

Chinese independent refiners are buying discounted Iranian heavy crude to replace Venezuelan shipments that have stalled after the U.S. claimed control of the OPEC producer last month, two people with knowledge of the matter said on Monday.

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by Reuters

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