House Committees to Convene Joint Hearing on Oil Price Crisis Amid Middle East Conflict
Thirteen committees of the House of Representatives are scheduled to hold a crucial joint hearing tomorrow, April 8, 2026, to urgently address the escalating oil price crisis triggered by ongoing conflicts in the Middle East. The meeting, spearheaded by Speaker Faustino Dy III, will take place at the People’s Center Building and will be chaired by Committee on Ways and Means Chairman and Marikina Representative Miro Quimbo.
Coordinated Legislative and Executive Response
The primary objective of this multi-committee gathering is to consolidate critical data and formulate concrete steps for both immediate assistance and long-term strategies to mitigate the oil crisis. Key discussions will focus on energy supply chains, the broader economic repercussions, and potential policy interventions. Various cabinet secretaries and government officials are expected to attend to provide detailed reports and actionable recommendations.
According to Representative Quimbo, seamless coordination between the legislative and executive branches is essential to swiftly implement measures that support the most affected sectors. Anticipated attendees include BIR Commissioner Martin Mendoza, BOC Commissioner Ariel Nepomuceno, and National Treasurer Sharon Almanza, who will contribute insights on fiscal and regulatory aspects.
Targeted Aid and Structural Reforms
Quimbo emphasized that the joint hearings aim to gather vital information and align the House’s response with ongoing executive actions, enabling the development of proposals that can be promptly enacted to protect vulnerable populations. Additionally, the multi-committee body will scrutinize targeted aid programs, fiscal support mechanisms, and structural reforms designed to lessen the impact of global oil shocks on the national economy.
This proactive approach underscores the government’s commitment to addressing both immediate relief needs and sustainable solutions, ensuring a comprehensive strategy to navigate the challenges posed by fluctuating oil prices and geopolitical instability.
