Baghdad (IraqiNews.com) – South Korea’s state-owned Korea National Oil Corporation (KNOC) announced that it imported 38.34 million barrels of crude oil from Iraq during the first eight months of 2026.
The volume represents a decrease of 45.6 percent compared to the same period in 2025.
Saudi Arabia was the largest oil supplier to South Korea, with 196.21 million barrels between January and August 2026, a 15.65 percent decline compared to the same period in 2025.
The United States was the second-largest oil supplier to South Korea, with 131.09 million barrels, and the UAE followed with 101.55 million barrels.
Iraq’s oil exports to South Korea fell from 70.55 million barrels during the first eight months in 2025 to 38.34 million barrels in the same period in 2026.
Iraq was the fourth largest crude oil supplier to South Korea in the first half of 2026, accounting for 7.4 percent of the country’s total oil imports.
Iraq’s average oil shipments to South Korea totaled 113.7 million barrels in 2025, which is an average of 311,500 barrels per day. This represents a 12 percent increase compared to 2024.
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