Deputy Economy Minister Lai Chien-hsin (賴建信) says Taiwan’s oil and gas supplies are currently stable and that there will be no problems with them through August and September. That came at a keynote address at the 2026 Taiwan Energy Summit on Wednesday, May 6.

Lai was addressing the situation in the Middle East and potential risks in the Strait of Hormuz. He said that the government has been holding daily energy coordination meetings since late February. Taiwan is also advancing an energy transition strategy which involves green energy development, supply diversification, grid reinforcement, as well as energy conservation and storage.

According to a recent Bloomberg News report, the investment bank Goldman Sachs believes global crude oil and refined product inventories are rapidly declining and that South Africa, India, Thailand and Taiwan face a higher risk of product shortages than other economies.