{"id":283907,"date":"2019-07-23T05:35:03","date_gmt":"2019-07-23T05:35:03","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=283907"},"modified":"2019-07-23T05:35:03","modified_gmt":"2019-07-23T05:35:03","slug":"millions-of-barrels-of-iranian-oil-piled-up-at-chinas-ports","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/millions-of-barrels-of-iranian-oil-piled-up-at-chinas-ports\/","title":{"rendered":"Millions of barrels of Iranian oil piled up at China\u2019s ports"},"content":{"rendered":"<p>Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports, creating a hoard of crude sitting on the doorstep of the world\u2019s biggest buyer.<\/p>\n<p>Two and a half months after the White House banned the purchase of Iran\u2019s oil, the nation\u2019s crude is continuing to be sent to China where it\u2019s being put into what\u2019s known as \u201cbonded storage,&#8221; say people familiar with operations at several Chinese ports. This supply doesn\u2019t cross local customs or show up in the nation\u2019s import data, and isn\u2019t necessarily in breach of sanctions. While it remains out of circulation for now, its presence is looming over the market.<\/p>\n<p>The store of oil has the potential to push down global prices if Chinese refiners decide to draw on it, even as the Organization of Petroleum Exporting Countries and allies curb production as growth slows in major economies. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports, creating a hoard of crude sitting on the doorstep of the world\u2019s biggest buyer. Two and a half months after the White House banned the purchase of Iran\u2019s oil, the nation\u2019s crude is continuing to be sent to China where it\u2019s being put into what\u2019s known as \u201cbonded storage,&#8221; say people familiar with operations at several Chinese ports. This supply doesn\u2019t cross local customs or show up in the nation\u2019s import data, and isn\u2019t necessarily in breach of sanctions. While it remains out of circulation [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-283907","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/283907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=283907"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/283907\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=283907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=283907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=283907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}