Trade data shows alternative suppliers offsetting declines from the Gulf.
Written by Nikkei Asia
Published on
12 May 2026
3 mins read
Southeast Asian countries are shifting their oil imports from the Persian Gulf to alternative suppliers, tapping Brunei, Libya, the US, and others to keep their economies running, official trade statistics and shipping data show.
The bloc currently imports more than half of its crude oil from the Middle East.
LONDON: Asian governments and refiners rushed to assess oil stockpiles as well as alternative shipping routes and supplies as…
Asian countries have increased purchases of US oil for April delivery to around 60 mln barrels
Crudes from Latin America, West Africa and the US help Asian refiners in their scramble to fill the Hormuz-sized supply gap.
Japan, South Korea and Taiwan rely heavily on exports through the Strait of Hormuz.
Scale of exports this time highlights the strain on global crude markets after the near closure of the Strait of Hormuz. Read…
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