South Korea pegs May oil imports at 87% of normal amid supply strain

South Korea pegs May oil imports at 87% of normal amid supply strain
April 26, 2026

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South Korea pegs May oil imports at 87% of normal amid supply strain

South Korea expects to secure 74.62 million barrels of crude oil in May, equivalent to 87% of its average monthly imports last year, the Blue House said on Friday, as the government steps up efforts to offset supply disruptions following the Middle East war. Presidential chief of staff Kang Hoon-sik said additional volumes have been sourced from the Americas and Africa, reducing reliance on Middle Eastern crude to 56% from 69%, while confirming that 23.99 million barrels from Saudi Arabia and 16 million barrels from the United Arab Emirates will be shipped via routes that bypass the Strait of Hormuz.

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