S Korea's oil product exports surge on higher crude prices

South Korea's oil product exports surged 63.5 percent on-year in February due to higher crude oil prices, the government said Thursday.


Overseas shipments of oil products, including gasoline, diesel, kerosene, naphtha and Bunker-C oil, reached 3.47 billion U.S. dollars in February, up 63.5 percent from 2.12 billion dollars a year earlier, the Ministry of Knowledge Economy said.


Refined oil products were the fourth-largest export item for the country last month, following ships, semiconductors and petrochemicals.


The volume of total shipments came in at 31.52 barrels in February, up 19.5 percent from 26.36 barrels the previous year, according to the ministry.


The February's sharp gain in petroleum product exports was attributable to higher crude oil prices and strong demand for refined oil, the ministry said.


Imports of crude oil reached 6.86 billion dollars last month, up 36.3 percent from 5.04 billion dollars a year earlier, with the volume of imports rising 7.9 percent on-year.
(Source:http://news.xinhuanet.com)