Following Tensions, PM Shehbaz Calls Urgent Petroleum Meeting

On Tuesday 24th of June 2025, due to the unstable regional scenario, Prime Minister (PM) Shehbaz Sharif called a quick conference to discuss the supply of petroleum products, according to sources.

“The Petroleum Division, Oil and Gas Regulatory Authority (OGRA), Pakistan State Oil (PSO), and refinery experts will all be present at the meeting, which will be chaired by PM Shehbaz.”

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The participants will examine present gasoline and diesel inventories as well as potential future supplies.

The impact of changes in the price of oil globally and the possible closing of the Strait of Hormuz will also be discussed during the meeting, according to sources.

To address these issues, the prime minister formed an Oil Supply Committee, which is chaired by Muhammad Aurangzeb, the finance minister.

In the event that the Strait of Hormuz is blocked, the committee will analyze backup plans for the oil supply.

Officials from the Petroleum Division have guaranteed that there is enough petroleum in the nation’s reserves to meet present needs. Oil prices dropped more than “6%” yesterday after Iran attacked a US military installation in neighboring Qatar in retaliation for US assault on Iranian nuclear facilities over the weekend. Around “(1815 GMT), West Texas Intermediate futures fell (6.5 percent to $69.96) a barrel, while Brent oil prices fell (6.4 percent to $72.07) a barrel, the lowest level in (10) days”.