South Korea's oil refiners hit export records in 2024, but earnings fell due to lower global prices.

South Korea's major oil refiners set records for gasoline and diesel exports in 2024, totaling 111.89 million and 211.66 million barrels respectively, the highest since 1992. Despite a 4.8% rise in overall petroleum exports to 490.45 million barrels, earnings fell 2.9% to $45.17 billion due to lower global prices. The increase in exports is seen as a strategy to cope with declining refining margins.

2 months ago
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