Korea’s Saudi Imports Tumble to 11-Year Low

摘要

Saudi crude imports into South Korea tumbled to their lowest level in more than 11 years as total Korean crude imports plunged together with falling refining runs. Korean imports of Saudi crude dropped by 244,000 b/d from February to 602,000 b/d in March, according to data from Korea National Oil Corp. That is the lowest level since November 2009, when Korea imported 493,000 b/d of Saudi crude. The drop in Saudi volumes made up most of the sharp decline in total Korean crude imports, which plunged by 358,000 b/d month over month to 2.32 million b/d in March (IOD Mar.30’21).