Iran’s oil exports to S Korea rise by over 10%

Seoul imported 1.15 million tons of crude from Tehran in June, or 281,338 barrels per day (bpd), compared with 1.04 million tons a year ago, customs data showed on Saturday, Reuters reported.

In the first half of the year, South Korea's intake of Iranian oil jumped 51.5 percent to 9.27 million tons, or 375,597 bpd, over the same period a year ago.

South Korea is one of the main Asian customers for Iranian crude, including an ultra-light oil known as condensate.

This year's surge in Iranian crude supply came after Tehran was exempted from production cuts led by the Organization of the Petroleum Exporting Countries (OPEC) to clear a global glut.

/SR