Almost 95% of Japan’s oil comes from the Middle East and is processed at ageing refineries optimised for Middle Eastern crude grades. (Photo: Kyodo via Reuters)SINGAPORE - Asian energy buyers are scrambling to find alternatives as the Iran war creates unprecedented supply disruption, but the region has ​limited longer-term options to reduce its heavy reliance on Middle Eastern oil. Energy Aspects analyst Richard Jones said some governments may seek diversification at the margins, but many Asian refiners are tied to Middle East term contracts. Michal Meidan, head of China energy research at the Oxford Institute for Energy Studies, said the situation could lead to fuel ​switching and demand destruction. Surrey’s Imsirovic said a prolonged disruption could prompt governments to reconsider ‌their reliance on Middle East energy entirely.

Source: Bangkok Post March 06, 2026 11:38 UTC