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Korean Oil Demand from Algeria Rises 70%
Algeria's crude oil exports experienced a significant increase during the first nine months of 2026, reaching approximately 370,000 barrels per day. There was a notable rise in Asian demand, particularly from South Korea, which increased its imports by more than 70%, making it the second-largest importer after Spain. Meanwhile, imports by some European countries declined considerably due to rising oil prices that exceeded $100 per barrel. Data indicates that Algeria has regained its market share following OPEC+ cuts, with record export levels in February reaching 510,000 barrels per day.
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