Kuwait's crude oil exports to Seoul rise 27.9%

Kuwait's crude oil exports to South Korea jumped 27.9% in June from a year earlier to 12.83 million barrels, or 428,000 barrels per day (bpd), (KUNA) news agency reported citing data released by the state-run Korea National Oil Corporation. As South Korea's No. 2 supplier, Kuwait provided 16.3% of the Asian nation's total crude oil imports in June, compared to a 13.2% share in the same month of 2011 and 16.1% in May. Overall South Korea's crude oil imports last month increased 3.4% year-on-year to 78.57 million barrels (2.62 million bpd). South Korea, with its heavy industrial base, is the world's fifth-biggest oil importer.