South Korea Aims to Cut Middle East Crude Reliance to 50% by 2035

South Korea will try to cut its reliance on Middle East crude imports to 50% by 2035, Reuters has reported, citing the country’s industry ministry. The ministry has drafted a 10-year natural resource security plan, which envisages a “fundamental shift” in the way South Korea sources its imports.

The plan also calls for a boost in oil reserves by some 20 million barrels by 2030.