Iraq ranks as fifth largest crude oil supplier to South Korea in August
Shafaq News/ Iraq was the fifth-largest supplier of crude oil toSouth Korea in August 2024, the Korea National Oil Corporation (KNOC) reportedon Tuesday.
According to KNOC's statement, Saudi Arabia maintained its positionas the top oil exporter to South Korea, delivering 26.997 million barrels lastmonth. The United States ranked second with 15.884 million barrels, followed bythe United Arab Emirates with 12.101 million barrels. Kuwait came in fourth,supplying 9.378 million barrels.
Iraq exported 8.886 million barrels of crude oil to South Korea inAugust, marking a 28.9% increase compared to the same period in 2023. Thefigure also represented a 27.9% rise from July 2024, when Iraq's exportsamounted to 6.946 million barrels.
The latest data from KNOC also indicated that South Korea's importsof crude oil from the Middle East rose by 2.9% year-on-year, reaching 493.120million barrels.
