China, a major buyer of Iranian oil, faces new challenges. A U.S. sanctions waiver on Iranian oil means increased competition and higher prices for Beijing. Chinese independent refiners, known as teapots, have been the primary buyers of discounted Iranian cru…
China, the world's top crude importer, has been the main buyer of oil from OPEC producer Iran in recent years but will face competition as well as higher prices after the U.S. issued a 30-day sanctio… [+3120 chars]
