Saudi Aramco Oil Attacks: Asia's Crude Importers Remain Well Stocked

摘要

In the aftermath of September 14’s attacks on Saudi Aramco's key oil infrastructure in Khurais and Abqaiq, Asia’s governmentshave been quick in putting forth contingency plans to reassure markets and manage potential negative spillover from heightened uncertainties. Japan and Taiwan appear to be in good shape to weather any supply risks pertaining to the situation in Saudi Arabia, based on ample strategic and commercial crude stockpiles at hand. Asia’s largest crude importers China and India both boast ample reserves and are likely to accelerate already ongoing diversifcation away from crude imports from Saudi Arabia, in the wake of the latest attack. In contrast, South Korea, Thailand and Indonesia appear more exposed to risks from a protracted outage, due to the large share of Saudi crude in the respective import mix and relatively small strategic crude reserves.