Thailand crude oil imports fall to five-month low in October

Oil

Thailand’s crude oil imports decreased by 200K b/d (or 22%) m-o-m to 726K b/d in October, falling to the lowest level since May, according to data from Thailand’s customs department. This is an increase of 231K b/d (or 47%) y-o-y however. Total imports from the Middle East fell by 154K b/d m-o-m to 406K b/d, with loadings from the UAE, Thailand’s largest supplier, falling by 39K b/d to 218K b/d. Imports from West Africa edged up by 3K b/d m-o-m to 127K b/d, with 62K b/d being received from Nigeria, a gain of 38K b/d (or 152%) m-o-m and 42K b/d (or 203%) y-o-y.