ASEAN Agrees Joint Emergency Oil Reserve Scheme Amid Iran Supply Disruption

ASEAN has agreed to establish a joint crude oil stockpiling scheme with storage in Indonesia and Thailand, using a ticket system for member withdrawals, in response to supply disruptions from the Iran war. The move marks a coordinated regional effort to buffer against tight supply, though details on capacity and funding remain unclear. It signals heightened energy-security concerns in Southeast Asia and could influence regional oil demand dynamics.

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