Iraq ranks 3rd among top crude suppliers to South Korea in December–KNOC

Shafaq News/ Iraq was the third-largest crude oil supplier to South
Korea in December, according to data from the Korea National Oil Corporation
(KNOC).

In a statement, KNOC reported that South Korea imported a record volume
of US crude in 2024 and plans to continue sourcing barrels from North America
throughout 2025 to optimize refining economics, particularly amid rising prices
for Middle Eastern sour crude.

Saudi Arabia remained South Korea’s top supplier last month, shipping
31.664 million barrels, followed by the United States with 12.143 million
barrels.

Iraq ranked third with 9.319 million barrels, reflecting a 19.4%
increase from October’s 7.805 million barrels and an 18.2% rise from December
2023’s 7.884 million barrels.

The UAE followed in fourth place with 9.018 million barrels, while
Kuwait ranked fifth with 5.794 million barrels.