South Korea Oil & Gas Q1 2020
A broader global slowdown and negative spillover from the trade war between the US and China are weighing on SouthKorea’s refining activity, and oil and gas trades. Appetite for crude oil and fuel exports to regional emerging markets are bothexpected to face growing headwinds, as demand growth both within and outside the domestic market wavers, while an expandingrefining capacity overhang pressures margins. Outlook for LNG imports remains strong, although we expect President Moon Jae-In’spro-LNG energy policies to face increasing headwinds over the coming quarters amid rising cost concerns and competition fromnuclear energy.
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