Iraq ranks as fourth-largest oil supplier to South Korea in April

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Iraq ranks as fourth-largest oil supplier to South Korea in April

Iraq was the fourth-biggest exporter of unrefined petroleum to South Korea in April, as per a report from the Korea Public Oil Company delivered on Saturday.

The report, assessed by y, uncovered that Saudi Arabia was the biggest exporter, with sends out adding up to 29.187 million barrels. The UAE continued in runner up with 16.95 million barrels, and the US came in third with 12.368 million barrels.

“Iraq was the fourth-biggest raw petroleum exporter to South Korea in April, with 7.749 million barrels,” the report noted. This denotes an increment of 35.1% contrasted with April 2023, when commodities remained at 5.735 million barrels. Notwithstanding, it likewise addresses a diminishing of 3.1% from the earlier month, which recorded 8 million barrels.

That’s what the organization featured “high insurance payments progressed forward with oil big haulers in the Bedouin Bay and Asia, and the thin Brent-Dubai cost spread pulled in South Korean treatment facilities to American raw petroleum. Nonetheless, the international alliance could make oil shipments from the UAE less expensive later on, rocking the boat in refining and exchange.”