09NOV2018 - NEWS - South Korea becomes largest long distance importer of US Crude Oil as per BIMCO
South Korea became the largest long-distance importer of U.S. crude oil as the country’s oil exports hit a new all time high in September, data from BIMCO, the world’s largest shipowner association, shows. Specifically, South Korea imported 1.1 million tonnes of U.S. crude oil in September, its highest level ever. Similarly, the next top three overseas importers of U.S. crude oil, namely the United Kingdom, Taiwan and the Netherlands all imported more in September than ever before. US crude oil exports to Asia jumped in June and July, from a 43% share of total exports since the start of 2017 to reach a 56% share. That share was down to 46% in August, but climbed back to 51% in September.