Gulf Oil Giants Push to Expand Overseas Stockpiles as Iran War Drags On — Live Feedhttps://www.live-feeds.com/feed/gulf-oil-giants-push-to-expand-overseas-stockpiles-as-iran-war-drags-onContinuously updated, source-cited coverage. Gulf Oil Producers Seek Asian Storage Expansion to Mitigate War Riskshttps://www.live-feeds.com/feed/gulf-oil-giants-push-to-expand-overseas-stockpiles-as-iran-war-drags-onhttps://www.live-feeds.com/feed/gulf-oil-giants-push-to-expand-overseas-stockpiles-as-iran-war-drags-on#u45472Thu, 20 Aug 2026 06:31:28 +0000Saudi Arabia and the UAE are urging Japan and South Korea to increase their crude oil stockpiles by up to 10-fold. This push for overseas storage in Asia aims to diversify risks associated with the Strait of Hormuz as the war with Iran continues. Gulf producers are shifting storage strategies toward Asia to ensure safer holdings of their crude oil while maintaining drilling operations despite the ongoing conflict.Why it mattersThe Strait of Hormuz is a critical chokepoint for global oil transit. Moving stockpiles to Asia reduces the vulnerability of supply chains to regional military escalatio