According to data from Korea Petroleum Corporation and Korea Petroleum Association, between January and August this year, Saudi crude oil accounted for 29.9% of South Korea's total crude oil imports, falling below 30% for the first time in five years. Affected by geopolitical risks in the Middle East, South Korean refiners are working to diversify the sources of crude oil imports. However, Saudi Arabia is still South Korea's largest supplier of crude oil. In the first eight months of this year, U.S. crude oil accounted for 20.12% of South Korea's total crude oil imports; after the cumulative share broke through the 20% mark for the first time between January and April, this ratio remained above 20%.

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