The Energy Ministry is concerned that tensions in the Middle East will push up global oil prices and hit supplies to Thailand. Six oil refineries in Thailand have to report their supply and selling volume as well as the quantity of crude oil and refined oil to the ministry every day, instead of every month. The former projection for Dubai crude oil in 2019 was a range of $73-75 per barrel. Imports of crude oil from the Middle East account for roughly 60% of Thailand's total import volume. Thaioil forecasts oil prices are expected to remain high because of concerns about supply disruptions in the Middle East.

Source: Bangkok Post May 22, 2019 23:07 UTC