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Korea National Oil Corp. to store 5.3 mil barrels of Saudi crude oil

October 23, 2023 Comments Off

State-run Korea National Oil Corp. will store 5.3 million barrels of Saudi Arabian crude oil in a joint inventory management deal with Saudi Aramco, which would be used as strategic reserves for South Korea, the company said Oct. 23. The deal was signed on the sidelines of summit talks between South Korean President Yoon Suk-yeol and Saudi Crown Prince Mohammed…