Thailand suspends crude oil exports to protect domestic supplies amid Middle East tensions

Thailand’s government has decided to temporarily suspend crude oil and petroleum product exports to protect the nation’s oil reserves amid escalating conflict in the Middle East.

According to S&P Global on Saturday, 14 March 2026, Thailand’s Energy Minister Auttapol Rerkpiboon ordered the export suspension as a precautionary measure to shield national oil reserves, particularly following disruptions to crude oil tanker traffic through the Strait of Hormuz in the ongoing regional crisis.

The minister has also ordered the establishment of an Energy Crisis Situation Monitoring Centre to oversee developments closely. Through this centre, all relevant agencies have been instructed to assess the impact on energy markets, evaluate reserve levels, track crude oil price dynamics, and prepare contingency plans for both short-term and long-term scenarios.

The Thai government is also considering using public funds to mitigate the impact of surging energy prices on household living costs.

According to data from Thailand’s Energy Ministry as of 1 March, domestic oil reserves stored within the country reached 4,877 million litres, equivalent to approximately 38 days of domestic consumption.

In addition to domestic reserves, Thailand maintains transit oil stocks of 2,783 million litres. Of this total, 1,666 million litres have transited through the Strait of Hormuz and 1,117 million litres are en route from other sources. These transit stocks provide approximately 22 days of supply. Combined, these volumes can meet domestic demand for approximately 60 days, according to the Energy Ministry.

The current stock level complies with regulatory requirements, and Middle East tensions have not yet affected local prices or supplies.

To further strengthen energy resilience, Thailand’s Energy Ministry has instructed the Department of Mineral Fuels to develop a plan to increase natural gas production from the Gulf of Thailand, including deferring scheduled maintenance. Coal-fired and hydroelectric power plants have been ordered to operate at full capacity as a preventive measure.

Based on data from S&P Global Commodities at Sea, Thailand imported 491,500 barrels per day of crude oil and condensate from the Middle East in 2025, up from 428,200 barrels per day in 2024. As of 2 March, the region accounted for more than 51 per cent of Thailand’s crude oil and condensate imports in 2026.