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Marcos: PH has enough crude oil until June 30, 2026

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Marcos: PH has enough crude oil until June 30, 2026 President Ferdinand ''Bongbong'' Marcos Jr. said Friday that the country has sufficient crude oil supply until June 30, 2026. ''Mayroon na tayong supply of crude oil, sufficient supply, hanggang June 30... tuloy pa rin ang paghahanap natin ng supply,'' Marcos said at the sidelines of the opening of the NAIA Expressway Phase II. (We have sufficien...
The President's announcement of a sufficient crude oil supply until June 2026 offers some reassurance amid rising fuel prices. However, the need for an additional 1 million barrels of oil suggests that the current supply may be insufficient to meet demand. The arrival of a ship carrying over 700,000 barrels of Russian crude oil could help alleviate this issue temporarily. The President's decision to sign Executive Order No. 110 indicates a proactive approach to addressing fuel price spikes and e...