According to the Ministry of Knowledge Economy and Korean Customs, the country accrued a whopping US$6 billion trade deficit this month alone, as of Aug. 20. A ministry official said: Crude oil is still being imported at over $130 a barrel. For full story, click here
World’s fifth largest crude importer, South Korea, reportd plans for a regional oil storage hub to ensure energy security as well as create new business opportunities. For full news, click here
South Korea’s spot fuel exports will decline in August by 16 per cent from July, due to a fuel oil production cut by SK Energy. For full news, click here
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