Japan will slash its crude purchases from Iran by almost 80 percent in April compared to the first two months of the year as buyers comply with Western sanctions, trade sources said.
The cuts, amounting to 250,000 barrels per day, are the steepest yet by the four Asian nations who buy most of Iran’s 2.2 million bpd of exports, as tightening sanctions make it tough to pay, ship and insure the oil.
