Papua New Guinea in April 2026: the most important developments in economy
Economic news for Papua New Guinea and the wider region in April 2026 centred on oil prices and the Strait of Hormuz. Oil prices surged by more than 9 percent on 12 April amid fears of disruption to global crude flows. On 17 April Iran announced that it would open the Strait of Hormuz during a ceasefire after a blockade that had disrupted oil shipments, and a South Korean oil tanker was reported to have passed through the Red Sea after the blockade. Soaring oil prices continued to squeeze small businesses such as dry cleaners in Tokyo and other countries, while Japan urged energy saving through tips rather than regulation.
by WorldBrief & Maksim Micheliov | AI-generated summary
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