CommoditiesData

Iraq Boosts Oil Exports to South Korea with 97 Million Barrels in 2024, Ranking Fourth Globally

Korean National Oil Company Reports Iraqi Crude Oil Imports for 2024

The Korean National Oil Company has announced the import of approximately 97 million barrels of Iraqi crude oil for the year 2024. According to an internal report, Saudi Arabia led the oil exports to South Korea last year, supplying a total of 343.285 million barrels. The United States followed in second place with exports of 168.432 million barrels, while the United Arab Emirates ranked third with 140.641 million barrels.

Iraq, securing the fourth position, exported 96.705 million barrels to South Korea in 2024, marking a 6.8% increase over the previous year when exports amounted to 90.514 million barrels. Kuwait completed the list by coming in fifth with additional contributions to South Korea’s oil supply.

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Summary of Oil Exports to South Korea in 2024

Exporting Country Amount of Exports (in millions of barrels)
Saudi Arabia 343.285
United States 168.432
United Arab Emirates 140.641
Iraq 96.705
Kuwait (fifth position, volume unspecified)

This data underscores the evolving dynamics of oil imports in the region and highlights Iraq’s increasing role within South Korea’s energy market.

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