Thailand’s crude imports reach 21-month high

Oil

Thailand’s crude oil imports increased by 528K b/d m-o-m and 126K b/d y-o-y to 1.12M b/d in December, rising to the highest level since March 2020 after previously falling to an eighteen-month low in November, customs data showed. Shipments from the Middle East jumped by 496K b/d m-o-m to 770K b/d, the highest since 2016, with imports from North America also rising by 68K b/d m-o-m to 106K b/d. Arrivals from Asia and West Africa declined by 44K b/d m-o-m to 82K b/d and by 24K b/d m-o-m to 75K b/d respectively. Across 2021 Thailand’s imports averaged 827K b/d, which is down by 46K b/d compared to 2020 levels.