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South Korea diversifies crude imports as Saudi share drops below 30%

From January to August, Saudi crude fell to 29.9% of South Korea’s total crude imports, with the country planning to triple Canadian crude imports.

Reported · Written up by our desk · Energy

South Korea’s share of Saudi crude in its oil imports has fallen below 30% for the first time since 2021, as the country seeks to diversify supplies amid the Middle East crisis, according to OilPrice.

In the January to August period, Saudi crude accounted for 29.9% of South Korea’s total crude imports, Yonhap reported, citing data from Korea National Oil Corp. and the Korea Pe.

OilPrice also reports that South Korea plans to triple its Canadian crude imports as Saudi’s share slips, reflecting the shift in sourcing.

Latest closeWTI crude $91.26 ▼1.7%

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