OIL & YOUR COUNTRY / South Korea
OIL & SOUTH KOREA
South Korea is a net importer of 2,326.4 kb/d of petroleum liquids (2025: consumes 2,437.1, produces 110.7 kb/d — derived from EIA international statistics). Brent rose $9.36 over the past month, to $112.44 (2026-10-22).
PAST MONTH'S MOVE × NET POSITION 2,326.4 kb/d x 1,000 x +$9.36 = +$21.8M/day
ANNUALIZED IF THE MOVE HOLDS +$7.95B/yr
YESTERDAY'S SESSION ALONE 2,326.4 kb/d x 1,000 x +$3.62 = +$8.4M/day
A rise costs it; a fall pays it. Sign follows the move.
First-order border-price exposure: the country's net oil position re-priced at the Brent move, nothing else. It is not a realized import bill or fiscal forecast — it excludes term-contract lags, benchmark differentials (Dubai/Oman, WTI), hedging, product mix, and subsidies. An exact answer to one defined question.
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