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Data recently released by the Korea Customs Administration showed that South Korea's base oil exports in October fell by 23% compared with the same period last year, and the export value fell by 14%
year-on-year.
South Korea's base oil exports were 330,000 mt in October, compared to 430,000 mt
in October 2021.
Exports in October were the third lowest
after August and June.
South Korea's base oil exports fell to $380 million in October from $443 million
a year earlier.
Base oil exports reported in October were the lowest since February and fell below $400 million
for the first time since April.
In October, South Korea's base oil imports fell 55% year-on-year to 14,000 mt
.
This is the lowest import volume since December 2019
.
In October, South Korea's base oil imports fell 44% year-on-year to US$19.
8 million, the lowest monthly import level
since December 2020.
