S.Korea Feb oil product exports tumble from July high

SEOUL, March 18 | Wed Mar 18, 2009 6:43am GMT

SEOUL, March 18 (Reuters) - South Korea's oil product exports fell last month, down more than two thirds from a record high in July last year, hit by weak demand and low crude oil prices, Yonhap reported, citing the Korea Customs Service.

Oil products exports, including diesel, naphtha and bunker-C, came to $1.5 billion in February, compared to $4.9 billion in July last year, down 69 percent.

The figures accounted for 5.7 percent of South Korea's total exports last month, compared to 11.9 percent in July.

Yonhap did not give a comparison for January this year or February last year.

Oil product exports came to $24 billion last year, up from $20.4 billion in 2006, and $10.2 billion in 2004.

The crude oil import price in February was $43.00 a barrel, more than half the $93.00 a barrel at the same time last year, it said. (Reporting by Angela Moon; Editing by Nick Macfie)

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