【Strait Blockage Leads to 50% Drop in Saudi March Oil Exports 】  April 1: According to foreign media reports, Saudi Arabia’s crude oil exports dropped by half in March due to disruptions in the Strait of Hormuz, forcing the country to reroute shipments to its west coast. Tanker-tracking data shows that average exports for the month stood at 3.33 million barrels per day (bpd), compared with 6.66 million bpd in February. Without the ability to transfer crude oil to Red Sea export terminals, this decline would have been even steeper. Following the outbreak of the Middle East conflict, Saudi Arabia swiftly shifted crude oil exports from Gulf terminals to its east-west pipeline. This pipeline transports crude oil from eastern Saudi oilfields to refineries and ports along the Red Sea coast, with a transport capacity of approximately 7 million bpd. When operating at full capacity, the pipeline supplies around 5 million bpd of crude oil available for export from Yanbu, while the remainder is allocated to refineries near Riyadh and along the west coast, or used for power generation and seawater desalination facilities along the Red Sea coast.

【South Korea Strengthens Vehicle Restrictions, Public Agencies Implement Odd-Even License Plate Limitation 】 April 1 (News): Amid the ongoing Middle East conflict and worsening energy supply tensions, the South Korean government announced on April 1 further reinforcement of energy-saving measures. On that day, the Ministry of Climate, Energy, and Environment stated that, effective from April 8 local time, the vehicle restriction policy for public-sector vehicles would be upgraded from the previous weekday “last-digit-based restriction” to a stricter “odd-even license plate restriction.” Although private vehicles remain subject to voluntary restrictions, a mandatory last-digit-based restriction will be enforced at approximately 30,000 public parking lots nationwide. Additionally, the government recommended that public institutions adopt flexible working hours, reduce non-essential business travel, and expand the use of video conferencing to further lower energy consumption. For public vehicles violating the restriction, disciplinary action will be imposed after four violations. The government emphasized that it has not yet introduced mandatory restrictions on private vehicles nationwide, instead adopting “transitional measures”—such as restricting access to public parking lots—to encourage the public to drive less and rely more on public transportation. Whether to further expand the scope of mandatory restrictions will be determined cautiously, based on energy supply-demand conditions and societal impact.