South Korea is undeterred by surging crude prices,and the world's fourth-biggest crude importer aims to actively secure ample refinery feedstocks as local refiners maintain relatively high run rates to capture lucrative Asian refining margins,industry and market participants said.South Korea received 11.472 million mt,or 84.09 million barrels,of crude oil in March,up 16.9 from 71.92 million barrels imported a year earlier,the latest data from Korea Customs Service showed.March shipments were up 6.1 Irom 79.28 million barrels imported in February,while crude imports during the first three months of the year increased 15.4 year on year to 258.17 million barrels.The country's crude imports are likely to maintain the upwaro momentum over the coming months as local refiners actively conduct spot crude purchases on top of their term supply contracts in an effort to maintain high throughput and run rates,with the primary goal of capturing robust regional refining margins and expanding oil product export opportunities.
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