June 25 (Reuters)-China's state-owned refiners are considering resuming purchases of Iranian crude oil following progress in reopening the Strait of Hormuz and restoring regional oil exports.
However, buying interest may remain limited. China currently has access to alternative crude supplies, while domestic gasoline and diesel demand remains relatively weak.
A return of Iranian oil to China could increase competition among Middle Eastern suppliers and provide Chinese refiners with greater flexibility in feedstock procurement.