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Asia vulnerable to oil shock in Strait of Hormuz

Asia’s increasingly energy import dependent economies would suffer the worst of the fallout

Fears of an oil shock brought on by a conflict or natural disaster in the Strait of Hormuz, the oil market’s most important artery, have long preoccupied Western oil executives and policymakers. Now, though, it is Asia’s increasingly energy import dependent economies that would suffer the worst of the fallout in another Middle Eastern oil crunch. Yet the region remains unprepared to deal with such an upheaval. As the centre of the global oil market has shifted east over the past decade, so too have the risks. However, while the West has taken the hard lessons of the 1970s oil crises and developed a robust system to help it weather another potential disruption, Asian governments have not fol

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