Why is Asia so reliant on Middle Eastern oil?

Asia depends on oil and gas from the Middle East, sourcing 60 per cent of its crude from the region, making it highly vulnerable if the Iran war causes a prolonged closure of the Strait of Hormuz supply ​route. How much Middle Eastern oil does Asia import? The Middle East is the world’s largest oil-producing and exporting ‌region, shipping one in four barrels of crude exports daily, mostly through the Strait of Hormuz. A pie chart depicting the share of Asia’s crude oil imports in 2...

By none@none.com (Reuters)