A post by @FirstSquawk on X.
Indonesia, Thailand, Philippines to set up shared oil reserves; Japan spearheads project after Iran war creates ASEAN energy shortages -Nikkei
@FirstSquawk on X
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Indonesia, Thailand, and the Philippines will establish shared oil reserves under a Japan-led project, according to Nikkei. The initiative follows energy shortages across ASEAN caused by the Iran war. Japan is spearheading the effort, though the report did not disclose reserve volumes, funding, or a timeline. The arrangement matters because coordinated stockpiles could blunt the region's exposure to Middle East supply shocks. Watch for details on how the reserves will be financed and whether other ASEAN members join.
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Named in this story
Thailand, Indonesia, Japan, Philippines, ASEAN