Korea’s oil imports from Iran down 40 percent on year

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Korea’s oil imports from Iran down 40 percent on year

Korea’s crude imports from Iran in May fell 40 percent from a year earlier, the Customs Service said.

The world’s fifth-largest oil importer purchased 550,714 metric tons of oil, or about 17,765 tons a day, from Iran last month, compared with 911,889 tons, or about 29,416 tons a day, a year earlier, according to data on the service’s Web site yesterday. Iran supplied 5 percent of Korea’s total crude imports in May, according to the data.

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