South Korea’s oil products demand fell 8.5% year on year in October due to higher retail prices and a domestic economic slowdown, data released late Thursday by Korea National Oil Corp showed. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The country consumed 73.35 million barrels, or an average of 2.37 million b/d, of oil products in October, down from 80.15 million barrels a year earlier, the data showed. It was the fourth consecutive month of decline in demand since July, when oil consumption dipped 2% from a year earlier. The October oil consumption was also down 4.4% from 76.68 million barrels in September. Over January-October, oil products demand edged down 0.1% on year to 773.61 million barrels. The decrease in oil consumption in October was attributable to weaker demand for auto fuels and LPG amid higher retail prices. Gasoil demand fell 10.6% […]