Commodity Market Report

South Korea product markets 2021 outlook to 2050

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03 August 2021

South Korea product markets 2021 outlook to 2050

Report summary

South Korea was surplus total products supply 206,000 b/d versus demand in 2020. By 2050, South Korea surplus in diesel/gasoil, jet/kerosene, gasoline and fuel oil will have grown significantly and deficits for LPG and naphtha will have declined. From 2019 to 2040, we project South Korea’s oil demand to fall by over 400,000 b/d (or an annual average of less than 1%) of which over 300,000 b/d originates from the road transport sector. From 2040 to 2050, total demand declines by nearly 400,000 b/d, reaching 2.0 million b/d.

Table of contents

Tables and charts

This report includes 6 images and tables including:

  • Refineries in South Korea
  • Refinery Throughput and Utilisation
  • Non-refinery supply by product
  • Non-refinery supply by source
  • Historic Net Product Trade
  • All Supply Balances

What's included

This report contains:

  • Document

    South Korea.xlsx

    XLSX 2.22 MB

  • Document

    South Korea product markets 2021 outlook to 2050

    PDF 1.08 MB