Overview
- Officials said Thursday that roughly 50 million barrels are lined up for April, compared with about 80 million barrels in a normal month, with more alternative cargoes expected in May.
- The government raised its resource‑security alert to Level 3 on Wednesday, the second‑highest tier, to tighten demand controls and speed supply diversification.
- Emergency deliveries from the UAE under a 24 million‑barrel priority deal are moving, including 2 million barrels that arrived Monday and more due in early to mid‑April.
- A first‑ever crude swap launched Tuesday lets refiners borrow government‑held Middle Eastern oil now and return equivalent volumes later, with four firms applying for about 20 million barrels and an initial 2 million‑barrel swap planned.
- Seoul is shifting purchases toward the United States and other suppliers and is curbing use at home, with an odd‑even driving rule for public‑sector cars from April 8 and an export ban on naphtha to shield petrochemical feedstock.