IRAN

Japanese Purchases of Iranian Oil Remain at Low Level

Not surprisingly, in the wait-and-see period between the two OPEC conferences in Vienna and Geneva, Japanese buyers continue to show little interest in purchases of Iranian oil for delivery direct to Japan. However, a few sales are understood to have been made for delivery to Japanese refiners. Kyushu Oil and Seibu Oil contracted for one 1.8mn barrel VLCC load (each company taking a half cargo) for July lifting, and Caltex has...