BANGKOK (Bernama): Thailand has sufficient oil supply for 109 days amid volatility in global energy markets fuelled by geopolitical tensions in the Middle East, the Energy Ministry said on Friday.
The ministry, in a statement, said the country’s reserves comprise 25 days of statutory stock, 24 days of commercial reserves, 38 days of oil in transit, and 22 days of confirmed supply.
The global energy situation remains highly uncertain amid geopolitical developments, including expectations of a further round of talks between the United States and Iran, it said.
According to the ministry, oil prices rose on April 16 amid supply concerns but eased slightly on April 17 following news of a temporary ceasefire between Israel and Lebanon as well as renewed hopes for further talks.
Despite the fluctuations, the ministry warned that risks of fuel shortages persist, as any peace agreement may not immediately resolve supply constraints.
Meanwhile, it said the Oil Fuel Fund is estimated to be in deficit by 61.7 billion baht (RM7.6 billion) as of April 17, with daily diesel subsidies amounting to approximately 185.76 million baht.
-- BERNAMA
