How much of South Korea’s crude imports came from Saudi Arabia and the United States in the January-August period?

Saudi crude accounted for 29.9 percent of total imports, while U.S. crude accounted for 20.12 percent. The article says U.S. crude stayed above 20 percent after first surpassing that level on a cumulative basis in the January-April period.

What could happen if Saudi Arabia’s crude share keeps falling this year?

Industry officials said Saudi Arabia’s share could drop to third place or lower this year. They also said it could fall below the previous low recorded in 1986 if the downward trend continues.

Saudi crude share of S. Korea's imports falls below 30% for 1st time in 5 years

Q: Why did Saudi crude oil’s share of South Korea’s imports fall below 30 percent in 2026?

The decline reflected efforts by South Korean refiners to diversify crude supply sources and reduce reliance on Middle Eastern crude amid growing geopolitical risks in the region. The article also says disruptions linked to conflict have affected oil facilities and shipping routes.

Listen

Summary

Saudi crude oil accounted for less than 30 percent of South Korea’s crude imports in the January-August period, industry data showed Monday, as refiners diversified supply sources amid Middle East geopolitical risks. The share fell to 29.9 percent from 30.91 percent the previous month. It was the first time in five years that Saudi crude fell below 30 percent, though Saudi Arabia remained South Korea’s largest crude supplier.

Key Facts

Saudi crude made up 29.9 percent of South Korea’s total crude oil imports in the January-August period, according to Korea National Oil Corp. and the Korea Petroleum Association.
The share fell from 30.91 percent in the previous month, marking the first time in five years that it dropped below 30 percent.
U.S. crude accounted for 20.12 percent of South Korea’s total imports in the eight-month period.
Industry officials said Saudi Arabia’s share could fall to third place or lower this year if the decline continues.
The decline was linked to South Korean refiners increasing imports from other regions and reducing reliance on Middle Eastern crude amid conflict-related shipping risks around the Strait of Hormuz and the Red Sea.

By Yonhap

Published Oct 5, 2026 11:52 am KST
Updated Oct 5, 2026 12:59 pm KST

File photo of a Saudi Aramco crude oil production facility in Saudi Arabia. AFP-Yonhap

Saudi Arabian crude oil accounted for less than 30 percent of South Korea's crude imports this year, industry data showed Monday, amid efforts by local refiners to diversify their sources of crude following geopolitical risks in the Middle East.

According to the data from the Korea National Oil Corp. and the Korea Petroleum Association, Saudi crude accounted for 29.9 percent of the country's total crude oil imports in the January-August period, down from 30.91 percent in the previous month.

It marked the first time in five years that the share fell below the 30 percent mark. Saudi Arabia remains South Korea's largest source of crude oil.

The annual share of Saudi crude last fell below the 30 percent level in 2021, when global crude oil supplies were disrupted amid heightened tensions in the Middle East and the COVID-19 pandemic.

If the downward trend continues, Saudi Arabia's share could fall to third place or lower this year, potentially surpassing the previous low recorded in 1986, according to industry officials.

The decline is seen as reflecting efforts by South Korean refiners to diversify their crude oil supply sources and reduce their reliance on Middle Eastern crude amid growing geopolitical risks in the region.

Saudi Arabia has faced disruptions to crude oil supplies and exports as the conflict in the Middle East has affected oil facilities and raised concerns over a closure of the Strait of Hormuz.

Although Saudi Arabia has continued exports by using alternative routes around the Red Sea, shipments have come under further pressure as Houthi rebels have threatened shipping in the region.

South Korean refiners have consequently increased imports from other regions, particularly the United States.

U.S. crude accounted for 20.12 percent of South Korea's total imports in the eight-month period, remaining above 20 percent after surpassing the 20 percent mark on a cumulative basis for the first time in January-April period.

Explore More