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In June South Korea’s Crude Imports Fall by 12.6%, first-Half Imports Down by 7.9%
Team Sea and Coast | 18/07/2020

According to a customs data, In June, the world’s fifth-largest crude oil importer shipped 10.04 million tonnes of crude oil, or 2.45 million barrels per day (bpd), down 12.6% from 11.49 million tonnes a year before.

In June, of all the country’s total crude oil imports, oil shipments from Saudi Arabia, South Korea’s top oil supplier, were 3.96 million tonnes, or 967,165 bpd, up by 7.8% from 3.67 million tonnes last year.

As compared to last years’ total shipments, South Korea’s imports of Mexican crude oil jumped by 21.7% to a new sum of 707,669 tonnes, or 172,907 bpd. Mexico is ranked as South Korea’s No.4 crude oil supplier last month after Saudi Arabia, Kuwait and the United Arab Emirates.

According to a data, crude oil imports from other major crude suppliers in June dropped as well. Oil imports from the United States went down by 39.2% year-on-year to 661,367 tonnes, or 161,594 bpd, while crude oil imports from Iraq fell by more than half to 584,942 tonnes, or 142,921 tonnes.

South Korea’s crude oil imports went down by 7.9% year-on-year to 66.95 million tonnes, or nearly 2.7 million bpd in the first half of the year.

State-run Korea National Oil Corp (KNOC) will declare the country’s final crude oil imports data later this month.