Most of the oil South Korea refines for sale to Australia comes from the Middle East.
That includes Saudi Arabia, Iraq, the UAE, Kuwait, Qatar and Oman. More than a third of Singapore’s oil is sourced from Arab nations. In 2024, Australia imported $7 billion of crude oil.
But very little of that is coming from the Strait of Hormuz.
The largest chunk of oil comes from Malaysia, based on 2024 data. More comes from Vietnam, Brunei and the United States.
Only six per cent comes from the UAE. No other Arab states sold oil directly to Australia that year.
Australia also exports almost as much crude oil as it imports.