Algerian oil exports to South Korea surge by 263% in one month
via Algérie3602 min read
Algeria's crude oil exports to South Korea have seen a significant increase, with a 263.3% jump in May compared to April, reaching nearly 3.64 million barrels. This surge is attributed to South Korean refiners seeking alternative oil sources amid tensions in the Middle East, particularly the conflict between Iran and the United States, which has complicated oil transport through the Strait of Hormuz. In May, South Korean oil imports from the Middle East dropped by 32% year-on-year. Over the first five months of 2026, South Korea's imports of Algerian crude totaled 9.31 million barrels, a 43.6% increase from the previous year. This growing trade relationship is also supported by diplomatic efforts; in early June, Algerian Minister of Foreign Affairs Ahmed Attaf met with his South Korean counterpart in Seoul to discuss increased oil purchases and strengthen their twenty-year partnership in energy and defense. While the Middle East still supplies the majority of South Korea's oil, Algeria is steadily gaining market share.
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