April imports estimated at 650,000 bpd Vortexa
Q1 Iran exports average 840,000 bpd, almost all to China Kpler
Independent refiners face shrinking margins
Displaced Russian Urals crude heading to China

SINGAPORELONDON, May 9 Reuters China39;s Iranian oil imports in April came off peak volumes seen in late 2021 and early 2022 as demand from independent refiners weakened after COVID19 lockdowns pummelled fuel margins and on growing imports of lowerpriced Russian oil.

The easing of Iranian oil purchases, which still make up some 7 of imports by the world39;s largest crude importer, came as Western diplomats have largely lost hope in reviving a 2015 nuclear pact while high oil prices emboldened Iran to take its time to return to an agreement.

A revived nuclear deal would allow Iran to boost its oil sales beyond China Iran39;s number one customer for the past two years to previous clients in South Korea and Europe.

Meanwhile, Russian crude, displaced by falling demand in Europe on growing concerns about sanctions over Russia39;s invasion of Ukraine, is heading to China. Russia sent tens of thousands of troops into Ukraine on Feb. 24 in what it called a special operation.

Initial assessments by Vortexa Analytics showed China imported nearly 650,000 barrels per day of Iranian crude in April, slightly less than the nearly 700,000 bpd discharged in March.

Kpler, another data analytics firm, tentatively pegged Iran39;s April exports at 575,000 bpd, down from an average…