Kuwait's crude oil exports to South Korea hit 3 month high

Kuwait's crude oil exports to South Korea surged 28.5 percent in February from a year earlier to a three-month high of 12.56 million barrels, or 448,000 barrels per day (bpd), according to latest data released on Friday by the state-run Korea National Oil Corporation.  The figure was the highest since November, when Kuwait's crude shipments to the country hit 14.06 million barrels (469,000 bpd). As South Korea's second-biggest oil provider, Kuwait supplied 15.7 percent of the Asian nation's total crude imports in February, compared with 12.1 percent in the same month of last year.  Overall South Korea's crude oil imports in February edged down 1.3 percent year-on-year to 79.75 million barrels (2.85 million bpd). South Korea, with its heavy industrial base, is the world's fifth-biggest oil importer.  Saudi Arabia was its top crude supplier, although shipments from the kingdom fell 1.7 percent from a year earlier to 915,000 bpd.  The United Arab Emirates ranked third with 310,000 bpd, up 12.7 percent, followed by and Qatar and Iran. South Korea's imports of Iranian crude oil plunged 32.6 percent on the year to 142,000 bpd in the wake of U.S. sanctions targeting Iran's nuclear program. (end) mk.sd KUNA 221115 Mar 13NNNN