Iraq Maintains Prominent Position Among South Korea's Oil Suppliers in August

Iraq maintained its position among major crude oil suppliers to South Korea last August, ranking sixth with a share exceeding 3.8 million barrels. South Korea's total crude oil imports reached 91.335 million barrels in August 2026, marking a 2.2% decrease from the 93.351 million barrels recorded in August 2025. These imports also fell by 2% compared to 93.180 million barrels in the preceding July. In detail, South Korea's imports of Iraqi oil in August 2026 amounted to approximately 3.826 million barrels. This indicates a sharp annual decline of 65.5% compared to the 11.105 million barrels imported in the same month of 2025. Notably, the data did not record any Iraqi imports during the previous July. This reflects a significant reduction in Iraq's oil share in the Korean market compared to the previous year, with imported quantities from Iraq decreasing by about 7.279 million barrels year-on-year.