"China bought around 10.9 million tonnes, or 440,000 barrels per day, of crude from Iran in the first half. The surprise increase was due to some spot purchases by state refiner Sinopec Corp, one state oil trader told Reuters, an unusual practice as nearly all crude exports from OPEC producers are on long-term contracts instead of spot sales. "Iran has some surplus barrels because some buyers are cutting back imports," said the trader. Japan, a key lifter of Iranian crude, has scaled back purchases due to shrinking domestic demand."
More at:
http://www.dailytimes.com.pk/default.asp?page=2007/07/24/story_24-7-2007_pg5_25
What becomes obvious, is that the press twists the truth. And of course the Chinese are going to be the sole purchaser of all exports, only because the US cannot do without the cheap labour to produce exports to US. In the meantime the secular people of Iran have to have coupons to buy Gasoline, whilst the Seyyeds buy centrifuges to make nukes. It's nuts.
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