Editor's Note: We continue our exclusive ORIENT analysis series on tectonic shifts in the global energy market. Our editor-in-chief, Bekdurdy AMANSARYEV, analyzes why, amid the global fuel storm, the Central Asian region maintains its status as an "economic oasis" and the true price of predictability.
ORIENT / ANALYTICS. A fragile equilibrium has reigned in the oil market. But Tuesday also vividly exposed the gap between the global storm and regional resilience. While global financial centers tried to "douse the fire" with oil from reserves, the Central Asian region demonstrated what experts call macroeconomic resilience (the ability of a system to maintain equilibrium in the face of external shocks).
The release of Japanese and American reserves has created a temporary "price ceiling." Brent crude is currently a tightly taut string ready to snap at any moment. It's hovering around $101–$102.
In economics, this is a classic "waiting market"—a state where participants delay decisions until the situation becomes clearer. The International Energy Agency's consumers have shown their trump cards, while producers, primarily OPEC+ led by Saudi Arabia and Russia, are still maintaining a "strategic pause" worthy of the best actors of the legendary Moscow Art Theater. It's a stalemate, where the main currency is not the dollar, but patience.
The global energy chess game is being played at the highest level. Donald Trump is balancing the interests of American consumers against the US's profits as an exporter, calling prices "the price of security."
Japan was the first to move from words to action, releasing a record 80 million barrels from reserves yesterday to protect citizens of the Land of the Rising Sun from the inflationary blow.
China occupies a special place in this game. While Washington and Tokyo are demonstratively "unsealing" their storage facilities, and others are making noise, Beijing, as a "quiet giant" whose silence sometimes weighs more heavily than the loud pronouncements of other capitals, is pursuing a strategy of prudent accumulation.
In the first two months of this year, China increased its oil imports by almost 16%. By early March, its reserves (commercial and strategic) reached a colossal 1.2-1.3 billion barrels. This volume will provide the country with three to four months of complete self-sufficiency.
Furthermore, China preemptively switched to supplies from Russia, increasing them to 2.1 million barrels per day at the beginning of the year. For Beijing, this is not just a purchase, but the creation of a "land bridge" of security, independent of maritime blockades.
Thus, possessing an "oxygen cushion" of over 1.2 billion barrels of oil, China has imposed a ban on the export of its own fuel (primarily gasoline and diesel), deciding to "lock" energy within the country to support industry, thereby guaranteeing domestic stability.
Beijing is clearly demonstrating that the best insurance against a storm is not only full tanks, but also time-tested overland routes and reliable partners on the continent. For our region, this is an important signal – the stability of pipeline connections is now valued above any stock market speculation.
Meanwhile, OPEC+ maintains a significant silence. Their position is one of "strategic restraint." The alliance considers the market balanced and is in no hurry to open the valves. In this clash of interests, Turkmenistan is reaffirming its commitment. While the giants argue, our country continues to export what is now more valuable than a barrel: predictability.
To understand the scale of the pressure on people, it was enough to visit gas stations in the world's capitals on March 17. A liter of gasoline in London approached $2.50 (up 12% over the week), in New York it was $1.45 (up 15%), while in Berlin the price crossed the $2.36 threshold (up 10%), and in Tokyo it was $1.12 (up 8% over the week, including subsidies).
Against this backdrop, the average price in Central Asia remains stable at $0.55–$0.65, appearing like an economic oasis. It's important to understand: expensive gasoline is "imported inflation" (a rise in domestic prices due to higher prices for imported goods).
If fuel is four times more expensive in London, then shipping any product there is also several times more expensive. But stable domestic tariffs in our region prevent the global price conflagration from spreading to our dinner tables.
While gas prices in Europe and Asia continue to soar above $1,100, Turkmenistan is reaffirming the benefits of energy sovereignty (complete independence in resource management). The difference between exchange-traded gas and our pipeline system is like buying water from a random trader versus owning your own artesian well. Those who invest in the pipeline are protected by long-term contracts and enjoy price immunity—protection from sharp market fluctuations.
So, what's the bottom line? Today's crisis is a practical lesson for our younger generation. It teaches them to see opportunity where others see chaos.
By observing the global "swings," future diplomats and economists learn the most important thing—the ability to maintain composure, even in such situations, like martial artists. This isn't passivity, but rather the highest form of control over the situation, characteristic of a true fighter.
