Philippines Seeks Long-Term Oil Supply Deal With Russia

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• Free Analysis Rule Based Analysis not AI OIL Bearish 70% 6h
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Original source

The Philippines is looking to formalize a deal to buy oil from Russia on a more permanent basis amid the energy crisis and heightened geopolitical tensions, Philippines President Ferdinand R. Marcos Jr. has said. The Philippines has been one of the worst-hit Asian economies in the current oil supply crisis triggered by the Middle East conflict, and has turned to Russia for ad-hoc spot supply to cover the shortfall of cargoes from the Middle East. Now the Asian country is looking to make the Russian oil arrangement more permanent as a means to diversify…

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Original article published by OilPrice.com on June 19, 2026. Analysis and insights provided by AnalystMarkets AI.

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