South Korea imported 11.5 million tonnes of crude oil in December, up from 10.6 million tonnes a year earlier, according to customs data. The increase reflects stronger refinery runs, steady fuel demand, and strategic inventory management amid ongoing volatility in global energy markets.
South Korea’s crude oil imports rose notably in December, signaling resilient energy demand and stable refinery operations despite global market uncertainty. Official customs data shows the country brought in 11.5 million tonnes of crude oil during the month, marking a clear year-on-year increase from 10.6 million tonnes in December last year.
The rise highlights South Korea’s continued dependence on imported crude to support its large refining and petrochemical sectors. As one of Asia’s largest crude importers and refiners, shifts in South Korea’s import volumes are closely watched by global oil markets for demand signals.
Key Highlights
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December crude oil imports reached 11.5 million tonnes, reflecting an increase of nearly 9 percent compared with the same period last year
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Higher import volumes suggest stronger refinery utilization as fuel consumption and export-oriented refining activity remained steady
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The data indicates that refiners may have increased purchases to manage inventories amid fluctuating crude prices and geopolitical risks
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South Korea remains almost entirely reliant on imported crude oil, making monthly customs figures a key indicator of regional oil demand trends
The latest figures point to stable underlying energy demand in Asia’s fourth-largest economy, even as global crude markets remain influenced by supply concerns, economic uncertainty, and shifting trade flows.
Source: Reuters, South Korea Customs Service