South Korea’s Oil Product Exports Rise 72% on Asian Demand
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South Korea, the world’s fifth-largest crude oil importer, said exports of petroleum products rose 72 percent in the first half of this year as demand from Japan and other Asian countries increased.
Exports climbed to $24.47 billion in the six months ended June 30, the third-largest contributor to the nation’s total overseas sales, the Ministry of Knowledge Economy said in an e-mailed statement today. Exports of petroleum products are equivalent to 53 percent of South Korea’s imported crude by value, and 47 percent of its imported crude by volume.