Bangkok: The Energy Minister acknowledged that the US sanctions on Russian oil companies have caused recent oil prices to rise, but OPEC+ is continuing to increase production and insists that this will not affect oil prices in the long term.
According to Thai News Agency, Energy Minister Atthapol Rerkpiboon addressed the US President Donald Trump's announcement of sanctions against two Russian oil companies. He questioned whether this would affect oil prices in Thailand and stated that, based on his investigation, no private companies in Thailand have oil purchase agreements with the two sanctioned companies. He acknowledged that this has impacted current oil prices, leading to higher prices.
However, diesel prices will be stabilized using the Oil Fund, which currently maintains a positive outlook. This allows a portion of the price to be gradually used to stabilize diesel prices for consumers. Although the current price surge is temporary due to this news, in the medium to long term, OPEC+ global production capacity continues to increase, ensuring there is no shortage of oil. He anticipates that oil prices will not rise significantly in the long term, and the Oil Fund should be able to manage the situation.