South Korea, Asia’s fourth-largest economy, increased oil imports in September by 0.3 percent from a year earlier.
The country, which buys all its crude from overseas, purchased 80.8 million barrels last month, the Ministry of Knowledge Economy said in an e-mailed statement today, citing preliminary estimates. That’s up from 80.55 million a year ago.
The country’s bill for imports rose 2.7 percent to $9.1 billion as prices based on Middle East benchmark Dubai crude gained 5.1 percent to $111.2 a barrel, the ministry said.
The country’s natural-gas import bill decreased 18.8 percent to $2.6 billion in September while costs for coal purchases fell 34 percent to $1.3 billion, according to the ministry.
To contact the editor responsible for this story: Alexander Kwiatkowski at firstname.lastname@example.org