Oman Crude Gains Favor Among Asian Refiners Amid Strait of Hormuz Concerns
Oman crude oil is gaining favor among Asian refiners due to concerns over shipping risks through the Strait of Hormuz, which has prompted buyers to prioritize delivery security.
The Oman Export Blend is becoming Asia's preferred medium-sour crude in the Persian Gulf market because it has limited exposure to logistical risks stemming from the US-Iran conflict, allowing some refiners to secure higher term volumes.
Refinery operations and logistics managers from Japan, Malaysia, India, and South Korea told S&P Global Platts that Oman's crude exports have direct access to the Indian Ocean for voyages to the Far East without passing through the Strait of Hormuz, giving it a significant advantage for Asian end-users seeking to secure adequate volumes of medium-sour grades.
South Korea imported 12.4mn barrels of Oman crude in the first seven months of 2026, more than a threefold increase from the 3.97mn barrels received during the same period last year, according to the latest data from state-run Korea National Oil Corp.