The election of Masoud Pezeshkian as President of Iran may significantly impact Asian oil buyers by aiming to revive the nuclear agreement with the West and lift international sanctions. This could restore Iranian oil flows, stabilizing the Asian oil market, according to analysts and traders.

Potential Impacts on the Asian Oil Market Asian buyers, especially in China, Japan, and South Korea, are monitoring possible changes in oil policy. Tushar Bansal of EY Parthenon notes that to affect winter oil prices, an agreement must be reached by September, potentially attracting foreign investment to Iran's oil fields.

Reactions from Asian Refineries Japanese and South Korean refineries, major consumers of Iranian condensates, are cautiously optimistic. South Korea was a significant buyer of Iranian crude before the sanctions, purchasing 148 million barrels in 2017. Japanese refiners valued Iranian Heavy and Forozan crudes.

Outlook for China and India Iran remains a key supplier of heavier crudes to China despite sanctions. A Beijing-based analyst predicts policy adjustments post-election could change oil export processes. Indian refiners are eager to resume imports of Iranian oil, which is traditionally vital to the country.

Commercial Partnerships The election of reformist President Masoud Pezeshkian brings hope for the normalization of oil flows to Asia. If sanctions are lifted, Asian oil markets could stabilize, benefiting regional buyers. However, this depends on international negotiations and Pezeshkian's ability to manage Iran's political landscape.https://energynews.pro/en/iran-relaunch-of-oil-exports-brings-hope-for-asia/