MANILA, April 26 — The Philippines, as this year's ASEAN chair, convened senior officials to assess the impact of the evolving West Asia situation on global and regional energy markets, focusing on oil and gas supply stability, price volatility and potential supply chain disruptions.
Xinhua reported that the Energy Department said that, during a virtual meeting yesterday, member states and dialogue partners exchanged updates on current supply conditions and discussed cooperation to diversify supplies, improve access to energy resources, enhance market transparency, and strengthen emergency response coordination.
Technical briefings highlighted constraints in key supply routes and shifting global trade flows affecting the region. Officials stressed the need to strengthen monitoring systems, improve data transparency and advance strategies for strategic stockholding and emergency reserves, taking into account national circumstances.
In a separate statement today, the regional bloc said participants underscored the urgency of enhancing ASEAN's collective preparedness and response mechanisms, as well as reinforcing regional solidarity and coordinated policy actions to manage emerging risks.
