The share of U.S. oil in South Korea’s crude oil imports in the first half of the year surpassed 20% for the first time.

The share of U.S. oil in South Korea’s crude oil imports in the first half of the year surpassed 20% for the first time. The tight blockade of the Strait of Hormuz and disruptions to Middle East oil supplies have pushed South Korean refineries toward alternative sources.

According to data from the Korea Petroleum Association and Korea National Oil Corporation, the country imported 467,120,000 barrels of crude oil in the first half of the year, which was an eight percent decrease compared to the same period last year.

Saudi Arabia, with exports of 142,470,000 barrels, remained South Korea’s largest oil supplier, but its share fell from 33.1% to 30.5%.

In contrast, imports of oil from the United States rose to 95,870,000 barrels, and its share increased from 16.5% in the previous year to 20.5%. The United Arab Emirates also increased its share from 11.9% to 15.1% by using the port of Fujairah.

Overall, the share of Middle East oil in South Korea’s imports fell by 6.4 percentage points to 62.3%. At the same time, the share of the Americas rose to 26.5% and Africa to 5.6%. This change indicates South Korea’s increasing diversification of energy sources following the war and disruptions along the routes in the Persian Gulf.