The s&p global commodity insights oil analyst stated that the immediate impact of the political situation in south korea on the oil fundamentals is minimal. However, if the situation escalates to economic weakness, oil demand may decline next year. In our base scenario, south korea's GDP is expected to grow by 2% by 2025. Escalating tensions could weaken economic growth and the country's oil demand of 2.6 million barrels per day. This would ultimately reduce south korea's crude oil imports. south korea is the third largest global importer of liquefied henry hub natural gas, following china and india, and gas imports are crucial for industry and power generation. According to s&p global commodity's maritime tanker tracking data, approximately 10.83 million tons come from australia, 8.47 million tons from qatar, 6.01 million tons from the usa, and 5.82 million tons from malaysia.