SEOUL, May 29 (Xinhua) -- South Korean exports and domestic consumption of oil products increased in the first quarter on the back of an expensive crude oil, a government report showed Monday.
The country's oil product exports reached 8.7 billion U.S. dollars in the January-March quarter, posting the third-biggest export item of the total, according to the Ministry of Trade, Industry and Energy.
In terms of volume, oil product shipments amounted to 127 million barrels, up 8.7 percent from a year earlier.
Oil product exports to China rose 2.6 percent on strong demand for low-sulfur diesel used for ships. Those to the United States surged 45 percent on jet fuel demand.
In the domestic market, oil product consumption inched up 1.4 percent from a year earlier to 235 million barrels in the first quarter. Strong demand in the corporate sector offset weaker demand from individuals.
Oil product imports declined 4.2 percent to 78 million barrels in the cited period. Enditem
