South Korea To Boost US Oil Imports In 2020

As South Korea is looking to reduce its over-reliance on crude oil imports from the Middle East, it has increased its oil imports from the United States in recent years, which mitigates, to an extent, Korea’s exposure to a potential disruption of oil flows through the Strait of Hormuz, IHS Markit said on Thursday.    South Korea’s diversification from oil supplies from the Middle East intensified as the U.S. slapped sanctions on Iranian oil exports and South Korea stopped importing oil from Iran.   Meanwhile, after the…