Oil Price in Thailand — Brent & WTI Crude Today

Thailand is a modest crude producer from the Gulf of Thailand and a major refining hub for the region. It imports most of its oil from the Middle East, pricing term crude relative to Brent and Dubai benchmarks.

Classified here as a small domestic producer, Thailand trades against the Dubai/Oman average and Brent. That is the pricing reference the sections below work from — the headline Brent number quoted at the top of this page is the global marker, not necessarily the price Thailand settles at.

Thailand produces crude, but not at a volume that influences the global balance. Domestic output softens the import bill without insulating the country from the benchmark, because unsold barrels always have an export alternative — refiners price against what the crude could fetch abroad, not what it cost to lift.

Asian refiners buy most of their crude on Dubai/Oman-linked term contracts from Gulf producers, and top up with Brent-linked Atlantic Basin cargoes when the Brent–Dubai spread makes that arbitrage work.

Thailand refines for its own market. Domestic refining means crude is imported or produced and converted locally, so the local fuel price reflects crude cost plus the domestic refining margin rather than the landed cost of finished product. Refinery outages and turnaround schedules can therefore move pump prices here independently of Brent.

Crude is invoiced in US dollars, so buyers in Thailand face two prices at once: the Brent price and the THB exchange rate. A weakening THB raises the local cost of a barrel even when Brent is flat, which is why domestic fuel prices in currency-exposed markets often fail to fall when the benchmark does. The reference rate used in the estimates on this site is 34.5 THB per USD.