Philippine Foreign Minister: Oil reserves can only sustain for 40 to 45 days.

The Philippines has become the first country in the world to declare a state of emergency due to energy shortages caused by the Middle East war. Philippine Foreign Minister Lzaro expressed that the country only has 40-45 days of oil supply left and outlined the "chain reaction" of rising energy prices on the economy. Philippine President Marcos announced on Tuesday that the country is entering a state of energy emergency and warned that the availability and stability of the country's energy supply are facing "imminent danger."