India, South Africa and other developing nations are planning to increase emergency fuel reserves after the Strait of Hormuz closure highlighted the advantage of stockpiles held by China, the US and other advanced economies. Pretoria has proposed its biggest strategic crude build‑up in decades, while India’s ONGC announced a significant expansion of national stockpiles as part of a wider government push. Big importers from Pakistan to the Philippines have also advanced plans after the Iran war left many Asian and African countries facing potential shortages and fuel rationing.

The combined Indian and South African measures would add about 50 mn barrels of oil, but analysts say this is dwarfed by the 10‑20 mn bpd loss from Hormuz. Wealthier economies have already tapped nearly 300 mn barrels from a 400‑mn‑barrel IEA release, and China’s reserves of roughly 1.3 bn barrels have been a key market backstop. Many developing nations lack refining capacity and rely on hybrid reserves that remain partly commercial.

South Africa aims to rebuild government stocks to 60 days of imports, requiring about 36 mn barrels versus current 8 mn barrels, while ONGC approved adding 13 mn barrels to its 40‑mn‑barrel network. Bangladesh, Pakistan, the Philippines and Morocco are also pursuing reserves, and Australia plans a $7 bn stockpile boost. Analysts note the new fills could put a floor under oil prices, but uncertainty over Gulf supplies remains.