Asia's Reliance on Middle Eastern Oil and Gas Highlighted

The Kobeissi Letter posted on X, highlighting Asia's significant dependence on oil and natural gas from the Middle East. Approximately 90% of crude oil passing through the Strait of Hormuz is destined for Asian markets. Additionally, around 82% of LNG exports from Qatar and the UAE are directed towards Asian buyers. China is the largest recipient, accounting for 38% of the oil transiting the Strait, followed by India at 15%, South Korea at 12%, and Japan at 11% source: https://www.binance.com/en/square/post/298867144150866?utm_source=BinanceNewsRSS