Korean Jet Exports Plunge

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South Korean jet exports plunged in September, outpacing a drop in jet production as refining runs tumbled. Korea is a major jet exporter and supplier of arbitrage jet to the US and Europe. Korean jet exports dropped by 128,000 b/d or some 34% from August to 248,000 b/d in September, according to data from Korea National Oil Corp. (KNOC). But exports were still up by 25,000 b/d compared to last September. Korean refining throughput sank by 176,000 b/d from August to 2.85 million b/d in September, reducing run rates to 80%. Jet output fell by 42,000 b/d from August to 362,000 b/d in September. The dramatic slide in exports swelled Korean jet inventories, which rose by 545,000 bbl to 4 million bbl in September.

Topics:
Jet Fuel, Refining, Oil Inventories
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