IEA chief says world facing largest energy crisis due to Iran war

The world is facing the largest energy crisis in history due to supply disruptions caused by the war in Iran, Fatih Birol, the head of the International Energy Agency, has stated.

At a conference in Paris, he said oil and gas markets are facing major difficulties, noting that “our world is confronting serious economic and energy challenges,” Caliber.Az reports, citing Iran International.

Earlier, the IEA chief had warned that the consequences of the ongoing Middle East conflict and the crisis surrounding the Strait of Hormuz could lead to a fundamental reshaping of the global energy map.

On February 28, the United States and Israel began military operations against Iran; ships passing through the Strait of Hormuz were also targeted.

In March, the IEA announced the release of 400 million barrels of oil from strategic reserves to stabilise the market and offset supply disruptions caused by the conflict.

Following talks on April 11, the US Central Command announced a maritime blockade of Iran, restricting vessel movement to and from the ports of the Islamic Republic.

By Bakhtiyar Abbasov