South Korea, which has this year vied with Japan as Asia’s number three crude importer (MEES, 6 November), has struggled to shrug off the effects of ‘Long Covid’ on its oil demand.

Imports were just 2.29mn b/d for November, the lowest monthly figure since December 2013. Average 11M 2020 imports of 2.66mn b/d are down 9% year-on-year, with 2020 on track for a 9-year low. (CONTINUED - 151 WORDS)