OPEC

As nuclear talks enter their final stretch, trade figures show China and India are increasingly ignoring US ‘limits’ on their Iranian crude purchases.

Intakes of Iranian crude oil and condensate in May were almost level with April’s bumper volumes, and well above ‘limits’ set out as part of the interim nuclear deal struck between Iran and the P5+1 group of world powers last November. Iran’s number one customer China took near-record volumes.

The...