South Korea’s imports from the Middle East were down 3% year on year to a three-year low 1.95mn b/d for 2025 according to the country’s latest trade statistics. With Korea’s overall imports remaining flat year on year at 2.80mn b/d the Middle East’s share dropped to 69.9%, the lowest since 2022.
Korea’s top supplier Saudi Arabia saw volumes fall by 1% to 945,200 b/d. In second place, the US supplied a record 460,200 b/d, up 5% year on year for its fifth consecutive year-on-year increase. An October 2025 trade deal worth an estimated $350bn between the US and South Korea, after a lengthy standoff over tariffs (MEES, 24 October 2025), should result in the East Asian nation increasing imports from the US, although the era of rapid US oil growth appears to have come to an end (MEES, 16 January). Korea’s number three supplier for 2025 remained the UAE, though imports fell 18% to 317,200 b/d. While the Middle East’s top two saw volumes drop in 2025, Korea’s number four and five overall suppliers Iraq and Kuwait boosted supplies. Iraq supplied a seven year high 311,500 b/d for 2025, up 12% year on year. Kuwait sent 237,600 b/d to Korea in 2025, a 6% year on year increase. (CONTINUED - 201 WORDS)