Oil Price Impact on South Asia– # 3, June 2022

Overview

Crude oil prices typically fluctuate based on seasonal demand and supply. Global supply and prices are also affected greatly by geopolitical conflict and civil unrest. Most recently, the COVID-19 pandemic caused crude price changes through a drop in demand. Oil prices are more volatile today due to many factors such as the Russia invasion of Ukraine, supply limitations by the Organisation of the Petroleum Exporting Countries, and others. As the price of crude oil is scaling new heights, South Asian economies are feeling the pressure. Therefore, this ONW has reviewed and compiled various relevant articles in print and electronic media on oil price impact on South Asian economies.