NextGen Day

MANILA, Philippines — On Thursday, a member of the House of Representatives said the government should gently gaze upon the Philippines and temper any increased pressure on crude oil, notably Dubai crude, from the Organization of Petroleum Exporting Countries (OPEC).

Party-list of the ACT-CIS Following Russia’s invasion of Ukraine, Rep. Jocelyn Tulfo made the statement in light of oil prices exceeding $100 per barrel.

“Now that Russia’s invasion of Ukraine is progressing, the DFA (Department of Foreign Affairs) must warn the Filipino people about the safety and security of Filipinos in Ukraine,” Tulfo added.

She explained that the crude oil the country imports is known as Dubai crude and is sold at the Singapore oil exchange.

“Natural gas is consumed in Europe at a higher rate than crude oil. Any price increases that would have an impact on us would be indirect and the product of knee-jerk reactions in the global oil and financial markets “she stated

Exports to the European Union and even certain Eastern European countries, she claimed, would be mostly unaffected.

“Looking ahead, these events in Europe should cause us to reflect on our regional security arrangements, as well as our bilateral and multilateral connections,” she said.

She emphasized the importance of being rigorous and thorough in the ongoing examination of the Philippine-US Mutual Defense Treaty and Visiting Forces Agreement, as well as the security connections of the Association of Southeast Asian Nations (Asean).

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

Need to get in touch?

Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. Simple Ways To Say Thanks & Support Us:
1.) GIVE A TIP. Send a small donation thru Paypal
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---