South Korea’s dependence on Middle Eastern crude hits 25-year low in 2021

South Korea’s dependence on Middle Eastern crude hit a 25-year low in 2021, latest data from state-run Korea National Oil Corp. showed, reflecting the country’s growing interest in cheap and abundant supplies in the Americas amid tight Persian Gulf production and expensive official selling prices. The world’s fifth biggest crude importer bought 574.4 million barrels from Middle Eastern suppliers in…