Oil price escalation could help China grasp more green global leadership

Monday 16 Mar 2026
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With crude oil prices incredibly volatile as the war in Iran continues, some countries are already warning they may run out of oil.

Pakistan and Bangladesh are both introducing emergency measures as petrol and diesel reserves come under pressure. Both countries are already closing down public buildings to reduce energy use and putting restrictions on fuel use. In Bangladesh the military are guarding oil depots and there are queues building up at petrol stations in Vietnam, Pakistan and the Philippines as prices escalate.

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