Eco
Recent official Korean data revealed that Iraq ranked sixth among the largest crude oil suppliers to South Korea during August 2026, with a share of approximately 3.826 million barrels. This ranking comes as South Korea's total crude oil imports declined to 91.335 million barrels last August. These imports saw a 2.2% decrease compared to 93.351 million barrels in August 2025, and a 2% decline from 93.180 million barrels recorded in the previous July. Regarding imports specifically from Iraq, the volume reached 3.826 million barrels, marking a sharp annual decrease of 65.5% compared to 11.105 million barrels in the same month of 2025. Notably, last July did not witness any oil imports from Iraq. This decline indicates a significant reduction in Iraq's oil share in the Korean market, with quantities decreasing by approximately 7.279 million barrels on an annual basis.
