-- Taiwan has raised its crude oil imports from the United States to about 60% of total supply, amid the Middle East crisis, Focus Taiwan reported Wednesday, citing the country's Economic Affairs Minister Kung Ming-hsin.
While addressing the legislative committee, Kung noted this marks a sharp increase from around 30% in 2024, when most crude imports still came from the Middle East. He said supply remains stable despite geopolitical tensions, with upcoming tanker arrivals expected through April and May.
State refiners CPC and Formosa Petrochemical have rerouted crude shipments away from the Persian Gulf amid regional tensions, reportedly. He added that Taiwan's oil reserves are sufficient for about 140 days of consumption, while a shipment of two million barrels of oil is currently on its way, the report said.
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