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📍🟡 “I think it’s going to hit us in June. We’re going to start seeing production stoppages, people losing overtime, shift reductions…”
The Economic Adviser to the Prime Minister’s Office Nurhisham Hussein joins The Breakfast Grille to answer:
• Why oil supply will not resume immediately after the war ends
• Why this shortage will impact every aspect of our lives beyond petrol prices
• Budget cuts to the Ministry of Health and Ministry of Education
Watch the full podcast on BFM’s YouTube channel or via the link in our bio.
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Transcript
I feel like we're in February 2020. The virus is just about to hit. We're hearing all this news. Everything's going on normally, but next month we are in a major crisis. While I won't say that this is something as dramatically impactful as that was, I do get the same feeling in the sense that we tier are taking a while. I wouldn't say taking this lightly, but people are just going on and not changing their behaviors. I think in the question of fuel shortages, you know, today we had news because that Trump has rejected the Iranian offer for, for a ceasefire for a long term peace in the in The Gulf. No what does that mean for supplies? Because there are things that are you know, unless you're in the industry, you don't quite understand. The spigot just doesn't get turned on immediately when, you know, pieces are now. So please talk us through that. So what we were good, and and this is, both, from the industry itself as well as direct communication between RPM and and the Middle Eastern leaders is that because the supply was shut off, the oil couldn't move out.
