South Korea remains in an "emergency situation" in terms of the country's crude oil supply, a senior official assessed Friday, noting the government may adjust oil supplies by refineries or impose export restrictions on related products. Vice Industry Minister Moon Shin-hak made the remarks in an interview with radio broadcaster CBS, as concerns mount over possible disruptions in oil supplies starting next month with the continued closure of the Strait of Hormuz, a key global oil export route. "We need to consider various options on how to respond in an emergency situation," Moon said while responding to a question on the government's oil supply management. Regarding the country's oil reserves, Moon said there have been reports Korea has enough reserves to last 208 days, but under a business-as-usual scenario that fully supports current economic activity, the reserves would not last that long. South Korea is known to hold a combined 190 million barrels of oil reserves. Moon said the government can issue an order for oil refineries to adjust their oil supplies and impose export restriction