Korea Cuts Reliance on Mideast Crude

摘要

South Korea has reduced its reliance on Mideast crude considerably this year, pivoting instead to global arbitrage crudes. Conversely, Japan has maintained its thirst for Mideast supplies even as total imports have dipped this year. The two importers are among the world’s biggest buyers of crude, and their differing strategies to crude procurement and different reOning crude slates likely played major roles in their contrasting buying patterns.