Thailand Likely to See Pressured Demand From Higher Oil Prices -- Market Talk
Dow Jones
Mar 09
0909 GMT - Higher oil prices may weigh on Thailand's external and domestic demand, Citi Research analyst Wei Zheng Kit writes in a note. The country is vulnerable to the oil shock from the Middle East conflict, as it imports nearly 1 million barrels a day of crude oil. For now, the Thai government is trying to shore up domestic demand through subsidies from the Oil Fuel Fund to keep retail prices stable, while ramping up domestic energy production, suspending refined oil exports and diversifying import sources. However, the impact from higher oil prices could be cushioned by lower oil intensity on Thailand's GDP and a lower likelihood of tighter monetary policy.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
March 09, 2026 05:09 ET (09:09 GMT)
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