China is weathering the Iran war oil shock better than others in Asia
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A war in Iran has disrupted oil supplies through the Strait of Hormuz, impacting Asian economies reliant on energy imports from the Gulf. China, India, Japan, and South Korea receive the majority of oil that passes through the strait. While China accounts for nearly 40% of this crude, India, Thailand, and South Korea are more vulnerable to supply disruptions. Some Asian governments are curbing energy consumption, and shortages have emerged in India and Thailand. Japan and South Korea possess the largest crude stockpiles, covering 200-250 days of imports, while India and Indonesia have reserves for only 20-25 days.
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Key Claims (5)
AI-ExtractedIndia and Indonesia's reserves cover only 20-25 days of demand.
Japan and South Korea have the largest strategic and commercial stockpiles of crude, covering 200-250 days of imports.
Between 46 and 70 per cent of the crude imports of India, Thailand and South Korea come from the Gulf.
Three-quarters of the oil supplies that passed through the Strait of Hormuz were destined for China, India, Japan and South Korea.
India, Thailand and South Korea are more exposed to disruptions in the flows of oil and gas via the waterway.
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