Turkey

Turkey faces moderate but escalating energy security risks, stemming from its extremely high 90% oil import dependency and significant exposure to Strait of Hormuz disruptions, with 93% of its oil imported. The current $1.85/L gasoline price is amplified by severe Lira depreciation, magnifying the economic burden on consumers and industries. While Turkey holds 45 days of gasoline reserves, this offers only a temporary cushion against sustained high prices. The outlook suggests continued economic strain, with persistent inflation and potential social unrest as energy costs remain elevated and the Lira's value erodes further.