Oil-import dependent Asia to suffer from Middle East attack - News Summed Up

Oil-import dependent Asia to suffer from Middle East attack


Japan, South Korea and China don’t have enough of it; the Middle East does, and much of it flows through the narrow Strait of Hormuz. Japan is the world’s fourth-largest consumer of oil — after the United States, China and India — and relies on the Middle East for 80 percent of its crude oil supply. But Japan still gets oil from other Middle East nations using the Strait of Hormuz for transport. South Korea, the world’s fifth largest importer of crude oil, also depends on the Middle East for the vast majority of its supplies. For both Japan and South Korea, there is extreme political unease to go along with the economic worries stirred by the violence in the strait.


Source: Pakistan Today June 14, 2019 14:03 UTC



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