South Korea’s oil imports surge 32.4% on the year in May
The country’s crude oil imports from Iran reportedly almost doubled in May to reach 541,510 tons (128,041 barrels per day (bpd)) from 284,327 tons (67,230 bpd) in May 2014. However, South Korea imported less crude oil from Iran in the January- May period compared with the same period of the previous year. In the first five months of this year, the country’s oil imports from Iran fell 2% to 2.46 million tons (119,395 bpd) on the year from 2.51 million tons (121,868 bpd).
Among the other main exporters, South Korea’s crude imports from Mexico reached 136,775 tons in May and 688,817 tons (5 million bpd) in the January-May period of this year while the country imported 133,203 tons of condensate from the United States in May.
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