Thailand prepares to cope with global oil price hike hinh anh 1Drones strike Saudi Arabia's oil facilities on September 14 (Source: Fox News)

Bangkok (VNA)
– The Energy Ministry of Thailand is planning to use 1.5 billion baht (about 49 million USD) from the state Oil Fund to support local oil prices, expected to rise one baht per litre in the short term after drones struck Saudi Arabia’s oil facilities on September 14.

Local media quoted Energy Minister Sontirat Sontijirawong as saying the plan is an urgent agenda item for the Energy Policy Administration Committee’s meeting on September 17.

The ministry is monitoring global oil prices and determining whether the impact will be short-term, he said.

Thailand has total 3.37 billion litres of crude oil in reserve, equivalent to 54 days’ consumption, and 131 million kilogrammes of liquefied petroleum gas for 23 days.

The Southeast Asian country imports roughly 1 million barrels of crude oil from overseas, of which 170,000 barrels are shipped from Saudi Arabia, accounting for 16 percent of the total per day./.