The world has faced oil shocks before. This one, Birol made clear, is different – deeper, wider and more dangerous. How governments respond in the coming weeks will determine whether the pain remains temporary or becomes a lasting scar on the global economy.
The market’s verdict has been swift and unforgiving. Brent crude futures rocketed to $119.50 per barrel – the highest since mid-2022 – while West Texas Intermediate (WTI) hit $119.48, capping a blistering 25 per cent surge in days.
The case raises wider questions about how rapidly advancing biotechnologies are governed in one of the world’s largest agricultural economies and food exporters.
ASEAN foreign ministers are expected to discuss the transboundary haze at an upcoming meeting. The episode highlights longstanding regional tensions over the annual haze, which has strained diplomatic relations in previous severe seasons such as 2015.
BCG says that policymakers and businesses alike will need strategies that address both the scale of the rural middle class and the constraints facing households that have slipped downward if the gains of recovery are to become more widely shared.
The case raises wider questions about how rapidly advancing biotechnologies are governed in one of the world’s largest agricultural economies and food exporters.
ASEAN foreign ministers are expected to discuss the transboundary haze at an upcoming meeting. The episode highlights longstanding regional tensions over the annual haze, which has strained diplomatic relations in previous severe seasons such as 2015.