South Korea data: Nov crude imports record first decline in over a year

1 Dec 2015   South Korea

South Korea’s crude oil imports fell 3.7% on year in November, marking the first decline in more than a year. The country imported 79.9 million barrels of crude oil in November, down from 83 million barrels a year earlier, preliminary data from the Ministry of Trade, Industry and Energy showed Tuesday. The November volume was down 4.8% from the 83.9 million barrels imported in October, the MOTIE data showed. While preliminary data from the MOTIE had shown crude imports dipped 0.9% on year in September, the final imports data released by the Korea National Oil Corp. showed that September crude imports had risen 2%. As such, November imports recorded the first year-on-year decline in South Korea’s monthly crude imports since October last year. The cost of South Korea’s imports fell 45.1% on year to $3.78 billion in November, from $6.89 billion a year earlier, and was also down from […]

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