Energy Minister Says No Impact from Saudi’s Oil Cut, Plans to Satisfy Demand in Reserve

Regarding the attack on Aramco’s oil plants last Saturday which cut roughly 5% of global oil output, Energy Minister Sontirat Sontijirawong said in a statement that it is expected that the incident will not disrupt its oil imports.

Moreover, the Energy Ministry also stated at the state-controlled PTT Public Company Limited (PTT) will not be impacted while the ministry has a contingency plan in place to satisfy oil demand. However, the Energy Policy Administration Committee will meet today to evaluate the situation.

Oil accounts for more than 10% of the basket of goods used for Thailand’s consumer-price index, making it key for the country’s inflation outlook.