Korean crude imports for July rebounded to 2.77mn b/d, up 12% on the previous month’s six-year low 2.47mn b/d (MEES, 17 July), according to official data released this week, as the economy recovers from the coronavirus pandemic. Imports in July were broadly flat year-on-year, although the caveat is that July 2019 imports were very low.
Imports over the first seven months of 2020 averaged 2.73mn b/d, down 7.5% compared to the same period last year. (CONTINUED - 205 WORDS)