Latest Oil Swap System News & Updates

South Korea Secures 60 Million Barrels of Alternative Oil Supplies for May

By

Seoul, April 7 (IANS) South Korea has secured an additional 60 million barrels of alternative oil supplies for May that will replace supplies from the Middle East that have been blocked due to the effective closure of the Strait of Hormuz, the government said on Tuesday.The country has secured a total of 110 million barrels of oil — 50 million for April and 60 million for May — so far from 17 countries, including Saudi Arabia, the United States, the United Arab Emirates, Brazil and Canada, Yan…