The Executive Director of the International Energy Agency, Fatih Birol, warned that the world could be facing its worst energy crisis in decades due to the war in the Middle East. Birol described the current situation as a major threat to global economic stability.
Speaking at the National Press Club in Canberra, the head of the International Energy Agency stated: "As of today, we have lost 11 million barrels per day — more than the two major oil shocks of the 1970s put together."
Birol further elaborated on the historical context, explaining: "At that time, the world lost about 5 million barrels per day in each of the two crises, totaling 10 million barrels. Today, the loss is significantly higher." The International Energy Agency remains in close contact with global partners to monitor the situation and mitigate potential supply disruptions.