Cuba says it is developing contingency plan to deal with fuel shortages and details to be released over the next week

• Cuba will increase on-island crude and gas production as well as fuel storage and refining capacity.

Cuba's announcement to develop a contingency plan for fuel shortages signals potential supply concerns in the region. The initiatives to boost domestic crude and gas production, alongside enhancing storage and refining capacity, may serve to stabilize local fuel supplies but could also impact global energy markets, especially if similar shortages arise in other areas. Traders should monitor any subsequent details released over the next week for further insights on regional energy dynamics.