Government Says Korea’s Oil and Gas Reserves Sufficient Despite Middle…
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South Korea’s government has reassured that domestic oil and natural gas reserves are sufficient to cover short-term supply needs amid rising geopolitical tension in the Middle East. Officials addressed energy security concerns during a parliamentary discussion involving lawmakers and government representatives.
According to the briefing, combined strategic and commercial crude oil stocks stand at approximately 190 million barrels, while gas reserves exceed the statutory minimum of nine days’ consumption. Authorities noted that current inventory levels should meet immediate demand without disruption.
Although officials emphasized short-term stability, they acknowledged the possibility of prolonged conflict and outlined contingency plans to manage potential supply risks, including monitoring key import and export sectors. The session also addressed broader economic and trade issues, with lawmakers planning a U.S. congressional visit to reinforce bilateral cooperation.
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#ShortTermStability
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