Asian market can't escape addiction to Mideast crude
Countries lured by prices and proximity even though they want to diversify due to geopolitical risks
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New Delhi
EVEN in a world awash with crude, buyers in the world's biggest oil market can't seem to escape their addiction to Middle East supplies.
South Korea's imports from the Middle East climbed last year to the highest level since at least 1980, while refiners in India say they are shunning shipments from distant ports and taking more cargoes from the Persian Gulf. Saudi Arabia and Oman have boosted supplies to China this year as volumes from Venezuela and Colombia to Asia's biggest crude consumer have shrunk.
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