Iraq is the fifth largest oil exporter to South Korea in 10 months
Customs stated in a report, seen by Shafak News Agency, that "South Korea's oil market share from Middle Eastern suppliers decreased from 82% in 2010 to 59% in 2021," noting that "South Korean refiners find American and Brazilian crude cheaper. of Saudi and Kuwaiti oil.
And she added, "South Korean refineries welcomed the decision of OPEC and its allies to continue increasing production in January, but crude importers aim to continue diversifying their sources of supply by reducing their dependence on Middle Eastern producers and increasing imports from the Americas to address the uncertainty about global supply and demand balance." and price fluctuations."
She pointed out that "Iraq came as the fifth largest oil exporter to South Korea for the period from January to last October for the year 2021, at 47.253 million barrels, down by 25.8% from the same period in 2020, in which South Korea's oil exports amounted to 63.715 million barrels."
She pointed out that "Saudi Arabia came first with the largest exporter to South Korea during the period from January to October, with exports amounting to 230.240 million barrels, while America came second with exports amounting to 101.445 million barrels, and Kuwait came third with exports amounting to 89.509 million barrels, and the UAE came fourth with exports." It amounted to 47.954 million barrels.
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