US waiver allows China to buy 360,000 bpd of Iran oil for 180 days

A U.S. waiver to sanctions on Iran allows China to buy 360,000 barrels per day (bpd) of oil from the Islamic Republic for 180 days, two sources familiar with the matter told Reuters on Tuesday.

The waiver includes conditions, including requiring the disclosure of counter-parties and settlement methods, one of the sources said.

China purchased an average of 655,000 bpd from Iran during the January-September period, according to Chinese customs data.