South Korea to Cut Middle East Oil Reliance Below 50% by 2035

South Korea's Ministry of Trade, Industry and Energy approved its first master plan for resource security, aiming to cut crude oil reliance on any single region below 50% by 2035. The plan adds 20 million barrels of reserve capacity by 2030 and expands the critical minerals list from 38 to 51 items.

• Reliance on crude oil from any single region to fall below 50% by 2035
• Reserve facilities for 20 million barrels to be secured by 2030
• Critical minerals list to grow from 38 to 51 items
• Reserve periods for vulnerable minerals extended from 180 to 365 days