South Korea Targets 50% Cut in Middle East Oil Imports by 2035

South Korea has announced plans to reduce its dependence on Middle Eastern crude oil imports by half by 2035. According to TradeArabia News Service, the country currently obtains about 70% of its oil from the region, but this will be cut down to 50% in a decade's time.

The move is part of a broader effort to diversify supply chains and reduce exposure to geopolitical disruptions. South Korea has faced naphtha shortages since the conflict in the Middle East began, affecting its petrochemical industry.