Korea grows more dependent on Gulf oil

South Korea has grown more dependent on the Gulf states for oil imports over the last decade despite its bid to diversify, according to a US Department of Energy report.

Seventy-five percent of the country’s imports last year came from the Gulf region, with Saudi Arabia the single-largest source by supplying 29% of South Korea’s oil purchases, according to analysis for June.

“This share of oil imports from the Gulf has risen over the last 10 years, despite concerted efforts on the part of South Korean officials to diversify the country’s sources of petroleum imports,” the report said
ArabianBusiness