Despite volatility in global oil market, Jamaica’s energy security remains intact

Despite volatility in the global oil market, Jamaica’s energy security remains intact.

That’s the assurance from Energy Minister, Daryl Vaz, at Jamaica House this morning, as he updated the nation on the Middle East war’s financial impact on Petrojam.

It is projected that if elevated prices persist up to June 2026, the Government will face an $11.8 billion bill.

Mr. Vaz noted that this cannot be sustained and therefore policies to restrict movement in the country may have to be considered, as part of conservation measures.

However, the Minister said while oil prices are increasing, mechanisms are in place to protect the sector.

He stressed that there is no need to panic.