What is the South Korean government doing to respond to the Saudi pipeline attack and Middle East tensions?

The Ministry of Trade, Industry and Resources is monitoring the situation with businesses and supporting shippers that need alternative routes. Vice Industry Minister Moon Shin-hak said the government will keep close contact with refiners and maritime shippers and can use a crude oil swap system with private companies.

Why does the government think the Saudi pipeline shutdown will have only a limited short-term impact on Korea?

The ministry said refiners already secured most of their crude needs for September and October, which reduces the chance of an immediate supply problem. It also said the government is tracking developments in the Middle East to respond quickly if conditions worsen.

Saudi pipeline shutdown to have limited impact on supply in short term: gov't

Q: How much of Korea’s September and October crude oil needs have local refiners secured after the Saudi pipeline shutdown?

The ministry said local oil refiners have secured more than 90 percent of the crude needed for September and October based on the previous year’s levels. It said the expected supply shortfall from the latest developments should be very small.

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Summary

Saudi Arabia’s recent pipeline shutdown is expected to have only a limited short-term impact on supply, the industry ministry said Monday. The Ministry of Trade, Industry and Resources held a meeting with businesses on Middle East tensions, including the attack on Saudi Arabia’s East-West pipeline. The government said local refiners have secured more than 90 percent of September and October crude needs based on last year’s levels and will monitor supply conditions with shippers and refiners.

Key Facts

The ministry said the latest developments are expected to cause very little shortfall in supply for September and October.
Local oil refiners have secured more than 90 percent of the crude needed for September and October based on the previous year’s levels.
Vice Industry Minister Moon Shin-hak said the government will communicate closely with oil refiners and maritime shippers to prevent inconvenience to the public.
Korea will use available policy measures, including a crude oil swap system with private companies.

By Yonhap

Published Sep 14, 2026 11:55 am KST

Oil prices are displayed at a gas station in Seoul, Sunday. Yonhap

The recent shutdown of a major oil pipeline in Saudi Arabia is expected to have only a limited impact on supply in the short term, the industry ministry said Monday, pledging to closely monitor the situation in cooperation with relevant businesses.

The Ministry of Trade, Industry and Resources hosted a meeting with businesses to discuss ways to address escalating tensions in the Middle East, including an attack on Saudi Arabia's crucial East-West pipeline.

According to the ministry, local oil refiners have secured more than 90 percent of the crude needed for September and October based on the previous year's levels, noting that the latest developments are expected to cause very little shortfalls in regard to supply.

The government said it will continue to monitor developments in the Middle East while supporting shippers seeking to use alternative routes.

"The government will communicate closely with oil refiners and maritime shippers while closely monitoring supply conditions to prevent any inconvenience to the public," Vice Industry Minister Moon Shin-hak said.

Korea will also utilize all available policy measures, including a crude oil swap system with private companies, he added.

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