South Korea's Middle East Crude Imports Plummet 37% in April Amid Regional Tensions

Deep News
May 24

Data released on Sunday shows that South Korea's crude oil imports from the Middle East in April fell by 37% year-on-year, impacted by ongoing geopolitical conflicts in the region. According to statistics from the Korea International Trade Association, South Korea's total crude oil imports in April amounted to 8.46 million tons, a decrease of 22.8% compared to the same period last year. Imports of Middle Eastern crude for the month were 4.49 million tons, down 37.3% year-on-year. This volume accounted for 53.1% of total imports, a drop of 12.1 percentage points from the 65.2% share recorded in the same month last year. Data from the association indicates that crude oil shipments from Saudi Arabia, South Korea's largest supplier, fell to 2.14 million tons in April, a decline of 37.6% compared to the previous year. In contrast, South Korea's crude oil imports from the United States during the same period reached 2.14 million tons, representing a year-on-year increase of 13.4%.

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