South Korea’s reliance on Saudi crude on track to reach 18-year high in 2023

South Korea is increasingly relying on Saudi crude oil, with the world’s fourth biggest crude importer taking more than a third of its total refinery feedstock purchases from the OPEC kingpin, as local refiners completely shun Russian oil, while many non-Middle Eastern crude producers focus on supplying Europe. South Korea received 27.96 million barrels of crude from Saudi Arabia in…