Thailand Diversifies Oil Imports Amid Rising Global Prices

Thailand is taking steps to prepare for high global oil prices that may persist into early 2027, according to Veerapat Kiatfuengfoo, the country's deputy permanent secretary for energy. The Energy Ministry is seeking crude oil from more regions and building up reserves to ensure sufficient supplies despite geopolitical tensions.

The current global oil price has reached approximately US$92.65 a barrel for West Texas Intermediate (WTI), US$97.31 for Brent, and US$100.16 for Dubai, making it essential for Thailand to diversify its imports and reduce dependence on any single source.

Veerapat stated that there is no need for the public to worry about oil shortages, as Thailand's supply and reserve systems can still meet domestic demand. The ministry is accelerating efforts to prepare infrastructure and reserve arrangements to give the country more flexibility in case of disruptions or changes in market conditions.