BANGKOK – With the Iran conflict driving fresh worries across global energy markets, Thailand’s Ministry of Energy says the country’s oil supply remains steady. Officials say Thailand holds sizable reserves equal to about two months of use, and can shift to other suppliers if unrest spreads to more oil-producing countries.
The update comes as many countries watch shipping risks in key routes such as the Strait of Hormuz, where a large share of global oil shipments pass. Thailand still depends heavily on Gulf producers, yet it has no direct exposure to Iranian crude. As a result, the main threat is higher global prices, not an immediate shortage at home.
Ministry of Energy: Strong Reserves and Plans Ready
Thailand’s Deputy Permanent Secretary Veerapat Kiatfuengfoo, speaking for the ministry on Sunday, said stockpiles can cover short-term swings. As of late February 2026, Thailand held about 4.92 billion liters of crude and refined products in the country. That equals about 38 days of demand. In addition, crude already on the way adds about 23 more days, bringing the total buffer to roughly 61 days, or close to two months.
Officials said the ministry will keep lining up other supply options if fighting expands in the Middle East. That work includes adjusting shipping routes and widening the list of sellers, so the country can keep refineries supplied even during long disruptions.
Energy Minister Auttapol Rerkpiboon has instructed teams to track events closely, prepare emergency steps when needed, and pause non-essential petroleum exports to protect local supply. The goal is to reduce the chance of sudden shortages and limit price shocks tied to supply interruptions.
Thailand’s limited exposure to the current conflict starts with a simple fact: it does not import crude oil from Iran. Trade records show little to no Iranian crude entering Thailand. While small amounts of petroleum products have appeared at times, the values were minimal, under US$1,000 in recent years.
Thailand has stayed away from Iranian crude because of past sanctions issues, political risk, and steady relationships with other producers. Compared with countries that previously relied on Iranian barrels, Thailand faces mostly indirect pressure, such as rising global benchmarks or disruptions along shared sea routes.
Oil Reserves Provide a Practical Cushion
Thailand runs a reserve system shared by the government and private refiners. The country also has about 240 million barrels in proven domestic reserves based on recent estimates, although local production covers only part of demand.
When stored volumes and in-transit supplies are combined, Thailand’s cushion reaches about 61 days. That gives authorities time to adjust purchases without panic buying or fuel rationing. If needed, officials can also stretch coverage by fine-tuning refinery runs and working with regional partners.
- In-country stock: about 4.92 billion liters (around 38 days)
- In-transit crude: about 2.87 billion liters (about 23 more days)
- Total effective reserve: about 7.8 billion liters (around 61 days)
- Immediate focus: watching Strait of Hormuz traffic and preparing backup supply plans
Thailand imports most of its crude to supply local refineries, with annual import values topping US$33 billion in recent periods. The strategy centers on using multiple suppliers, so the country doesn’t rely on any one source.
Based on 2024 to 2025 data, key suppliers include:
- United Arab Emirates: the top supplier, around 44% of imports (leading in value and volume)
- Saudi Arabia: a major supplier with a changing share, around 11 to 14%
- United States: a growing source, around 11 to 14%, including low-sulfur grades used by refiners
- Malaysia: a regional supplier, about 7 to 9%
- Indonesia: a steady ASEAN partner, around 5 to 7%
Thailand has also brought in more supply from places such as Qatar (with fast growth) and Nigeria, which supports a broader mix beyond the Gulf. Even so, Gulf barrels remain important because of shipping distance, crude quality that fits local refineries, and long-running contracts. At the same time, supplies from the US and Southeast Asia add flexibility when conditions change.
Domestic Oil Work Continues, Even as Imports Lead
Thailand’s local output helps reduce import needs, even though it can’t meet total demand. Proven reserves stand at about 240 million barrels, and recent years have seen steady production that reflects active fields and gradual depletion.
PTT Exploration and Production (PTTEP), the state-backed operator, leads much of the upstream work in the Gulf of Thailand. Projects such as G1/61 support oil and gas supply for domestic use. Recent results point to stable or improving sales volumes, with spending focused on maintaining production.
Next, the government plans to put more attention on the Andaman Sea. Energy Minister Auttapol Rerkpiboon said Thailand plans to open new exploration blocks there, while avoiding disputed areas and focusing on zones under Thai control.
PTTEP’s multi-billion-dollar investment plan through 2030 is meant to strengthen reserves and production over time, which can lower long-term reliance on imports as demand grows from industry and electrification.
What This Means for Thailand’s Energy Security
Oil prices have climbed as the conflict continues, yet Thailand’s supply picture remains stable because imports are spread across several countries, reserves are strong, and there’s no direct link to Iranian crude. The ministry’s planning, including backup sourcing and limits on non-essential exports, is designed to keep fuel available and reduce pressure on local prices.
Longer unrest could still raise shipping costs and global benchmarks, which would affect Thailand at the pump. Even so, the roughly two-month reserve window gives decision-makers time to adjust contracts and shipping plans as conditions shift.
Overall, Thailand’s position rests on clear pillars: no direct Iranian crude exposure, sizeable stockpiles, a diverse group of suppliers, and steady domestic exploration work.
