Fuel oil, LPG lift South Korea oil demand

摘要

Seoul—South Korea’s oil products consumption rose 8.1% year on year over July-September amid strong demand for LPG, Bunker-C fuel oil as well as auto fuels, but rising retail prices may rein in appetite for some of the products in the next quarter, according data from the Korea National Oil Corp. The country consumed 228.74 million barrels of oil products, or 2.49 million b/d, over July-September, compared with 211.61 million barrels a year earlier, according to data from state-owned KNOC. In the first quarter, oil products demand had climbed 7.8% from a year earlier. For the first nine months of this year, oil demand rose 8.2% year on year to 680.50 million barrels, compared with 629.18 million barrels in the year-ago period, according to KNOC data.