Global Energy Crisis: Nations Cut Back on Oil

0:00On March 24th, the war in the Middle East has blocked the Strait of Hormuz, a key route for global oil shipments, sending prices above 100. Dollars of barrel and sparking fuel shortages worldwide. Countries are rushing to conserve energy as supplies dwindle and prices soar. Sri Lanka is leading tough cutbacks, turning off streetlights, neon signs, and billboards after 9 p.m., while pushing a four-day workweek and. From home setups to slash consumption by 25 percent. The Philippines declared a national energy emergency, allowing quick fuel buys and advance payments to build stockpiles for the next 45 days. Meanwhile, Slovenia kicked off fuel rationing in the European Union, limiting private cars to 50 liters a day at stations. Vietnam Airlines will cancel 23 fights weekly from April 1st due to jet fuel shortages, prioritizing essential routes. New Zealand plans weekly payments of about 22 pounds to 143,000 low-income families starting

1:02April 1st to ease petrol costs. Other nations like Bangladesh, with early holidays and power cuts, Thailand urging stairs over elevators, and Pakistan shifting schools online are all. Stretching reserves. Trump mentioned possible talks with Iran that briefly dropped oil prices 9.7 percent to around $101 a barrel. Experts note pump prices lag weeks behind market shifts, leaving uncertainty ahead.