{"id":72573,"date":"2026-07-02T20:15:10","date_gmt":"2026-07-02T20:15:10","guid":{"rendered":"https:\/\/www.europesays.com\/korea\/72573\/"},"modified":"2026-07-02T20:15:10","modified_gmt":"2026-07-02T20:15:10","slug":"s-korea-cuts-iraqi-oil-imports-by-80-in-may-shafaq-news","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/korea\/72573\/","title":{"rendered":"S. Korea cuts Iraqi oil imports by 80% in May &#8211; Shafaq News"},"content":{"rendered":"<p>\n                            2026-07-02T18:46:35+00:00<\/p>\n<p>                                    font<\/p>\n<p>                                            Enable Reading Mode<\/p>\n<p>\n                                        A-<br \/>\n                                        A<br \/>\n                                        A+\n                                    <\/p>\n<p>Shafaq News- Baghdad\/ Seoul <\/p>\n<p>South Korea&#8217;s crude oil imports from Iraq fell 80.1%<br \/>\nyear-on-year in May, as Seoul accelerated efforts to diversify its energy<br \/>\nsupplies away from the Middle East, according to data released by the Korea<br \/>\nNational Oil Corporation (KNOC).<\/p>\n<p>South Korea imported 2.146 million barrels of Iraqi<br \/>\ncrude in May, down from 10.778 million barrels in the same month of 2025.<br \/>\nImports also fell 62.2% from <a href=\"https:\/\/shafaq.com\/en\/Economy\/South-Korea-s-Iraqi-crude-imports-fall-42-in-April\" target=\"_blank\" rel=\"nofollow noopener\">April<\/a>, reflecting a sharp decline in Iraqi<br \/>\nshipments to the South Korean market.<\/p>\n<p>Iraq ranked sixth among South Korea&#8217;s crude suppliers<br \/>\nin May, behind Saudi Arabia (18.839 million barrels), the United States (15.020<br \/>\nmillion), the United Arab Emirates (13.151 million), Algeria (3.644 million),<br \/>\nand Qatar (2.782 million), while remaining ahead of Kazakhstan (2.082 million).<\/p>\n<p>During the first five months of 2026, South Korea<br \/>\nimported 31.992 million barrels of Iraqi crude, down 29.9% from the same period<br \/>\na year earlier.<\/p>\n<p>KNOC attributed the decline to Seoul&#8217;s strategy of<br \/>\ndiversifying energy imports and reducing its reliance on Middle Eastern crude<br \/>\namid regional instability. South Korea has increased purchases from the UAE,<br \/>\nAlgeria, Canada, and African producers through alternative shipping routes that<br \/>\nbypass the Strait of Hormuz. The report also said Seoul plans to raise imports<br \/>\nof Canadian crude to 16 million barrels this year, with a long-term goal of<br \/>\nincreasing annual imports to 20 million barrels.<\/p>\n","protected":false},"excerpt":{"rendered":"2026-07-02T18:46:35+00:00 font Enable Reading Mode A- A A+ Shafaq News- Baghdad\/ Seoul South Korea&#8217;s crude oil imports from&hellip;\n","protected":false},"author":2,"featured_media":72574,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[8634,19141,31,39403,39402,33],"class_list":["post-72573","post","type-post","status-publish","format-standard","has-post-thumbnail","category-korea","tag-breaking","tag-iraq","tag-korea","tag-oil-imports","tag-s-korea-cuts-iraqi-oil-imports-by-80-in-may","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/72573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=72573"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/72573\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/72574"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=72573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=72573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=72573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}