ASEAN energy ministers are meeting this week to discuss regional energy security against supply disruptions caused by the US-Israel war on Iran, and the 11 members imported about half of their oil needs from the Middle East before the war that began in late February and were left exposed to the effective shutdown of the Strait of Hormuz, according to Al Jazeera.

Saudi Aramco chief Amin Nasser said the conflict reduced oil supply from the region by nearly 3bn barrels, with over 1bn barrels released from reserves, and estimated that less than 6bn barrels of commercial inventories remain, according to the Middle East Eye.