Iran’s oil exports to China are at a 10-year high, according to data revealed on Tuesday.
Iran is exporting 1.5 million barrels per day of crude oil to China in August, the highest figure since 2013. It's also substantially higher than the 917,000 bpd Iran averaged in exports to China during the first seven months of the year, according to data by the international data intelligence firm Kpler, cited by Iran’s official Islamic Republic News Agency.
Why it matters: Iran and China are growing closer together. In March, China brokered the agreement that resumed diplomatic relations between Iran and Saudi Arabia. Last month, Iran became a full member of the China and Russia-led Shanghai Cooperation Organization.
China has also been Iran’s top trading partner since 2022, though Iran was China’s 50th largest trading partner last year, according to a July primer from the US Institute of Peace.