The price of oil affects the microeconomic activities in the Philippines and the rest of the world. Trend says that oil price hike began in March 2022 as one of the domino effects of the Russia Ukraine conflict. - As a Trade-Industry Development Specialist at the Department of Trade and Industry, you are tasked to explain the demand and supply in oil in the Philippine, in your own understanding, the Department of Energy Oil Monitor as of June 28, 2022 - You are also requested by your principal to recommend strategies for the micro, small, and medium enterprises (MSMEs) to cope with the oil price changes in the short-term (10 points). Main reference can be accessed at https://www.doe.gov.ph/oil-monitor?withshield=1.