Commodity Market Report

South Korea product markets long-term outlook H2 2019

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South Korea was surplus total products supply versus demand in 2018. By 2040, South Korea will remain surplus in diesel/gasoil, jet/kerosene, gasoline and fuel oil, and deficit in LPG and naphtha. Driven by the petrochemicals sector, South Korea's oil products demand has grown over 400 kb/d from 2010 to 2019. As the growth in petrochemical feedstock diminishes in the long run while fuel efficiency continues to improve in transport and other sectors, total products demand is forecast to reach a peak after 2025 and then reduce gradually. Demand is expected to lower by 100 kb/d from 2019 to 2040.

Table of contents

Tables and charts

This report includes 6 images and tables including:

  • Refineries in South Korea
  • Refinery throughputs and utilisation
  • Non-refinery supply by product
  • Non-refinery supply by source
  • Historical net product trade
  • Product balances – all supply versus demand

What's included

This report contains:

  • Document

    South Korea.xlsx

    XLSX 2.11 MB

  • Document

    South Korea product markets long-term outlook H2 2019

    ZIP 3.35 MB

  • Document

    South Korea product markets long-term outlook H2 2019

    ZIP 3.35 MB