The fifth largest oil buyer in the world abandons Iranian crude in August

Data from the Korean Customs Authority showed that South Korea did not import Iranian oil in August, which it also did in the same month last year.

The data indicated that the fifth largest oil buyer in the world It imported a total of 11 million tons of crude oil last month compared to 10.6 million tons imported in August 2020.

The state-owned Korea National Oil Corporation will release final data on South Korean crude oil imports for the last month later this month.

The International Energy Agency said on Tuesday that the distribution of Covid-19 vaccines will release the demand for oil, which has been affected by the pandemic restrictions, especially in Asia, after a three-month decline in global demand.

In an interview with Al-Arabiya, oil expert Muhammad Al-Shatti described the hurricane season in the United States as reflected by a decrease in supplies, and therefore by a greater focus on supply, despite the slow recovery of the question, alerting on optimistic estimates of oil performance in the coming year.

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