(MENAFN) Iran shipped out 1.07 million barrels per day (bpd) of crude and condensate in June, plus Asia's Iranian crude oil imports for the last two years have declined in the cited month, according to recent reports.
Additionally, the Republic's exports of condensate, a byproduct of natural gas output, in the cited month reached 240,000 bpd, the second-highest this year and a fall of 10 percent from top-month May.
The latest large condensate shipments were mainly driven by the fact that China has continued its purchases after taking a break from the light oil for several months, importing one million barrels in the cited months.
"Iranian condensate is very cheap, therefore we have been paying close attention to the matter," stated a source with a North Asian buyer of condensate from Iran's South Pars Gas Field.
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