China, the world's largest buyer of Iranian crude oil, has renewed its annual import agreements for 2011, keeping the volumes steady at some 460,000 barrels per day (bpd), two sources told Reuters.
China's commitment to keep volumes firm came as India, Iran's second-biggest oil buyer, was locked in a payment dispute with the Islamic Republic over its crude imports of around 400,000 bpd and as Japan scaled back further Iranian oil buys.
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Source: Business Spectator
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