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%. Japan and South Korea are particularly vulnerable, with over 60% of their total oil imports transported via the Strait of Hormuz. This underscores the critical role the Strait plays as an energy lifeline for Asia, emphasizing the region's susceptibility to potential supply disruptions.