รัฐ–เอกชนประเมินสถานการณ์ตะวันออกกลาง ยันไทยมีน้ำมันสำรองเพียงพอ เดินหน้าติดตามผ⁠ล⁠ก⁠ร⁠ะ⁠ท⁠บเศรษฐกิจGovernment and Private Sector Assess Middle East Situation Confirming Thailand Has Sufficient Oil Reserves, Continuing to Monitor Economic Impacts

On March 4, 2026, Mr. Kriangkrai Thiennukul, Chairman of the Federation of Thai Industries (FTI), participated in the second meeting to assess the situation of hostilities in the Middle East. This meeting was chaired by Dr. Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, who was assigned by Mr. Anutin Charnvirakul, the Prime Minister and Minister of the Interior. Joining them were Mr. Pipat Ratchakijprakan, Deputy Prime Minister and Minister of Transport, as well as relevant ministers concerning the economy, permanent secretaries, heads of related agencies, and representatives from the private sector from the Joint Private Sector Committee of three institutions (JPC) at the Phakdi Bodin Building, Government House.

Dr. Ekniti reported the results of the meeting, stating that the conference summarized the channels of impact from the conflict in the Middle East, with the primary channel being energy, as the Strait of Hormuz is a vital oil transport route globally, accounting for approximately one-fifth of the world's oil transported or over 20% of the total volume. Thus, it is an important factor that may impact the Thai economy.

Regarding oil reserves, Thailand currently has sufficient oil reserves for approximately 60 days of consumption and can also import oil from other sources. Measures have been mandated for relevant agencies to negotiate for sourcing oil from alternative suppliers to ensure that Thailand will have enough oil for its needs.

Concerning global oil prices, they may fluctuate according to the situation, but they will continue to follow market mechanisms, with the Fuel Fund helping to maintain stability to minimize impacts on the public. Meanwhile, regarding natural gas or LNG, the meeting emphasized increasing production, with the Minister of Energy tasked to expedite related actions, and other production sources will quickly be presented to the Cabinet.

Simultaneously, the meeting expressed concern about commodity prices and will utilize domestic trade mechanisms to prevent price gouging. The government will implement various measures to ensure that the situation does not adversely affect the economy and the public. Additionally, feedback from the private sector was received, and the conclusion aligned with the assessment that oil reserves remain sufficient and can be sourced from other locations.

However, in terms of maritime transport, there may be impacts from increased war risk premiums for cargo ships. The Ministry of Commerce will discuss this issue with the private sector to find ways to ensure there are adequate vessels for international trade without being adversely affected.

Moreover, Dr. Ekniti further stated that the Prime Minister has assigned the Ministry of Foreign Affairs as the main agency to coordinate with various ministries to report the situation to the public daily at 6:00 PM until the situation is resolved.

For the private sector, Mr. Kriangkrai stated that they held a meeting with the Joint Private Sector Committee of three institutions (JPC) to closely monitor the situation on the same issues, evaluate impacts, and prepare accordingly. It is currently clear that the country’s oil reserves remain adequate while also promoting energy conservation and efficient use among businesses.

As for oil prices, they still depend on global circumstances. Although the government has measures in place to provide support, the private sector remains concerned that prolonged situations may have wide-ranging economic impacts. Furthermore, maritime exports that must pass through the aforementioned routes could increase shipping costs and insurance expenses. Therefore, it is essential to monitor and study shipping routes and alternative transportation methods moving forward.