IEA Chief Warns Iran War Energy Crisis Worse Than 1970s, Threatens Hormuz
IEA chief Fatih Birol has warned that the Iran war is causing an energy crunch worse than the 1970s oil crises and the Ukraine war combined, with 11 million barrels of oil lost daily. This comes as the IRGC threatens to close the Strait of Hormuz and US-Iran tensions escalate, leading to a slide in Asia stocks.
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Middle East crisis live: IEA chief says Iran war energy crunch worse than 1970s oil crises and Ukraine war combined
Fatih Birol says world is losing 11m barrels of oil per day, more than the 1973 and 1979 energy shocks combined; IRGC threatens to completely close strait of Hormuz if Trump acts on infrastructure threats Iran vows to destroy Middle East water and energy facilities if US attacks power plants Hello and welcome to our live coverage of the US-Israel war on Iran, the broader regional conflict and the impact on the world economy. The head of the International Energy Agency, Fatih Birol has said ...
By Adam Fulton
Read full article →Fatih Birol (IEA): ‘The war in Iran is already the biggest threat to energy security in history’
The secretary general of the agency that coordinates oil reserves warns that the current supply reduction is greater than in the 1970s
By Caio Mattos,Ricardo Sobrino
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