ResearchIndustry Insight2026-10-29
SGP 715 vs THA 946 kbpd: ASEAN Refining Import Hierarchy
Thailand imports 946 kbpd crude — highest in ASEAN; Singapore 715 kbpd focuses on transshipment; Indonesia 368 kbpd, Malaysia 329 kbpd, Philippines 103 kbpd. Indonesia’s refinery input (953 kbpd) exceeds imports, confirming domestic processing hub role. Thailand’s ending stock stands at 24,367 kbbl. Malacca Strait AIS count: 89 vessels/day — above historical norm of 76.