Oil Ministry: No Major Drop in Iran’s Crude Exports

 (FNA)- There has been no decline in the total volume of Iran's oil exports to China and India in recent months, a senior Oil Ministry official stressed on Wednesday.

Director for international affairs of National Iranian Oil Company (NIOC) Mohsen Qamsari said that the exports to China and India are being done according to the contracts signed with the countries, the ministry's website reported.

He said any drop in the course of the exports is natural which is compensated shortly afterwards.

The International Energy Agency (IEA) reported a drop in the total oil exports by Tehran in its monthly report which said Iran's exports slipped 36% to fall to 510,000 barrel per day ( bpd).

China and India are two major customers of Iran's crude oil and have long-term contracts with Tehran that are extended every year. 

China's Iranian crude oil imports expanded 36 percent in May, or 757,900 bpd, from a year ago to the second highest on record, customs data showed last week.

Qamsari said China's imports are currently higher than the agreed level which, China says, it will be reduced to reach the contract level.