Iran’s oil minister arrived Wednesday in China to discuss oil sales after backing to become a member of the new Asian Infrastructure Investment Bank. Iranian Oil Minister Bijan Zanganeh was joined by trade and industry officials in his first state visit to China since taking office in 2013. His visit comes one week after Tehran and international powers brokered a framework nuclear agreement that could bring sanctions relief to Iran. Iran supplies China with about 12 percent of its annual oil needs. The National Iranian Oil Co. said more oil could head to the Chinese market as sanctions pressure ease. Word of Zangeneh’s visit influenced crude oil markets already pressured by the glut of oil from U.S. shale deposits. Iran’s oil exports are limited about half of […]